CBOM FINANCE P.L.C. ANNOUNCES RESULTS OF OFFERS TO SELL FOR CASH THE U.S.$500,000,000 5.875 PER CENT. LOAN PARTICIPATION NOTES DUE 2021 AND U.S.$500,000,000 5.550 PER CENT. LOAN PARTICIPATION NOTES DUE 2023
10.06.2020
On 2 June 2020, CBOM Finance p.l.c. (“CBOM”) at the request of CREDIT BANK OF MOSCOW (public joint-stock company) (“CBM”) invited holders (the “Noteholders”) (the “Offers”) of the U.S.$500,000,000 5.875 per cent. Loan Participation Notes due 2021, of which U.S.$366,182,000 remain outstanding (Regulation S ISIN: XS1510534677; Rule 144A ISIN: US12504PAC41) (the “2021 Notes”) and the U.S.$500,000,000 5.550 per cent. Loan Participation Notes due 2023, of which U.S.$363,370,000 remain outstanding (Regulation S ISIN: XS1759801720; Rule 144A ISIN: US12504PAF71) (the “2023 Notes”, and together with the 2021 Notes, the “Notes”, and in respect of the Rule 144A Notes of each series, the “Rule 144A Notes”, and in respect of the Regulation S Notes of each Series, the “Regulation S Notes”) to submit tenders to sell to CBOM for cash the Notes subject to the offer and distribution restrictions, and upon the terms and subject to the conditions set forth in an offer to purchase dated 2 June 2020 (as it may be amended or supplemented from time to time, the “Offer to Purchase”).
Capitalised terms used in this announcement but not otherwise defined have the meanings given to them in the Offer to Purchase.
Results of the Offers
The Offers expired at 5:00 p.m. (New York Time time) on 9 June 2020. As at the Expiration Time, the aggregate principal amounts of the Notes validly tendered and not validly withdrawn were equal to:
- 2021 Notes – U.S.$86,492,000; and
- 2023 Notes – U.S.$43,336,000.
No Notes were tendered using the guaranteed delivery procedures.
CBOM hereby announces that it has decided to accept for purchase all tendered Notes as indicated below.
|
Description of the Notes |
ISIN/ Common Code / CUSIP (Rule 144A Notes) |
Outstanding Principal Amount at the Launch of the Offers(1) |
Purchase Price |
Amount Accepted for Purchase |
Outstanding Principal Amount Following the Settlement of the Offers(2) |
|
U.S.$500,000,000 5.875% |
Regulation S Notes: XS1510534677 \151053467; Rule 144A Notes: US12504PAC41/151053432 \12504P AC4 |
U.S.$366,182,000 |
U.S.$1,032.50 per U.S.$1,000 principal amount |
U.S.$86,492,000 |
U.S.$279,690,000 |
|
U.S.$500,000,000 5.550% |
Regulation S Notes: XS1759801720 \1759801720 Rule 144A Notes: US12504PAF71/177220094 \12504P AF7 |
U.S.$363,370,000 |
U.S.$1,030.00 per U.S.$1,000 principal amount |
U.S.$43,336,000 |
U.S.$320,034,000 |
___________________
(1) The Outstanding Principal Amount includes U.S.$37,123,000 and U.S.$39,243,000 of the Outstanding Principal Amount of the 2021 Notes and the 2023 Notes, respectively, held by or on behalf of CBM, which CBM intends to hold for its own account and may sell or cancel them in the future as announced by CBOM on 2 June 2020.
(2) All Notes accepted for purchase under the Offer to Purchase will be cancelled, and upon such cancellation the corresponding portions of the principal amount of the loans to CBM (together with accrued interest) shall be deemed to have been repaid by CBM.
Settlement
The Settlement Date is expected to be on or about 12 June 2020.
On the terms and subject to the conditions of the Offer to Purchase, Noteholders who validly tendered and did not validly withdraw their Notes and whose Notes have been accepted for purchase by CBOM, will receive on the Settlement Date (i) the applicable Purchase Price and (ii) the relevant Accrued Interest.
For Further Information
Further details about the Offers can be obtained from:
The Dealer Managers
Citigroup Global Markets Limited
Citigroup Centre
Canada Square
London E14 5LB
United Kingdom
Tel: +44 (0) 20 7986 8969
Email: liabilitymanagement.europe@citi.com
Société Générale
One Bank Street
Canary Wharf
London E14 4SG
United Kingdom
For information by telephone:
London: +44 (0) 20 7676 7951
Email: liability.management@sgcib.com
The Tender Agent
Lucid Issuer Services Limited
Tankerton Works
12 Argyle Walk
London WC1H 8HA
United Kingdom
Attention: Thomas Choquet
Telephone: +44 (0) 20 7704 0880
Email: mkb@lucid-is.com