NOTICE OF BUY-BACK AND CANCELLATION OF NOTES BY CBOM FINANCE P.L.C.
17.11.2020
From time to time over the past year, CREDIT BANK OF MOSCOW (public joint-stock company) (“CBM”) has purchased outstanding loan participation notes (the “Notes”) issued by CBOM Finance p.l.c. (“CBOM”) through open market purchases made by or on behalf of CBM and/or tender offers completed by CBOM (at the request of CBM). CBM has held such Notes as part of its treasury and liquidity management functions together with certain other instruments in its securities portfolio.
In order to proactively manage its liabilities, decrease its risk weighted assets denominated in foreign currencies and reduce funding costs against the backdrop of the low interest rates environment, CBM delivered to CBOM for cancellation (the “Cancellation”) the Notes in the aggregate principal amounts of U.S.$319,000,000 and EUR40,000,000 (as set out in column A below in more detail), and such Notes were cancelled with effect from 13 November 2020 (the “Cancellation Date”). The total principal amount of outstanding Notes of each series (including the Notes retained by CBM) following the Cancellation is set out in column B below, and this is the total amount of outstanding Notes of each series that remains listed on Euronext Dublin.
|
Description of the Notes |
Regulation S ISIN/Common Code |
Rule 144A ISIN/CUSIP |
Principal Amount held by CBM surrendered for Cancellation (A) |
Outstanding Principal Amount following the Cancellation (B) |
|
U.S.$500,000,000 5.875% Loan Participation Notes due 2021 |
XS1510534677/ 151053467 |
US12504PAC41/ 12504P AC4 |
U.S.$67,000,000 |
U.S.$212,690,000 |
|
U.S.$500,000,000 5.550% Loan Participation Notes due 2023 |
XS1759801720 / 175980172 |
US12504PAF71 / 12504P AF7 |
U.S.$92,000,000 |
U.S.$228,034,000 |
|
EUR500,000,000 5.150% Loan Participation Notes due 2024 |
XS1951067039/ 195106703 |
XS1951067542/ 195106754 |
EUR40,000,000 |
EUR327,228,000 |
|
U.S.$500,000,000 7.121% Loan Participation Notes due 2024 |
XS1964558339/ 196455833 |
US12504PAG54/ 12504PAG5 |
U.S.$120,000,000 |
U.S.$217,270,000 |
|
U.S.$600,000,000 4.700% Loan Participation Notes due 2025 |
XS2099763075/ 209976307 |
US12504PAH38/ 12504P AH3 |
U.S.$40,000,000 |
U.S.$541,000,000 |
With effect from the Cancellation Date, each of the loans made by CBOM to CBM under each applicable Loan Agreement (as defined under the terms and conditions of each series of Notes) is deemed to have been prepaid by CBM in an amount equal to the applicable principal amount of the Notes so cancelled, and has been reduced accordingly.
CBM, CBOM or any of CBM’s subsidiaries may, from time to time, undertake any additional purchases of the Notes as they may decide in their absolute discretion depending on the market conditions prevailing at that time and in accordance with the terms and conditions of each series of Notes.
This announcement constitutes a public disclosure of inside information under Regulation (EU) 596/2014 (16 April 2014).