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MKB notifies about the current status of the 8.875% perpetual Eurobond (ISIN - XS1601094755, US12504PAE07) coupon payment

26.05.2022

On 10th of May 2022 another coupon payment under Subordinated loan agreement entered into between CREDIT BANK OF MOSCOW (public joint-stock company) (“the Bank”, “MKB”) and CBOM Finance plc on 02 May 2017 (8.875% perpetual Eurobond issue), was due.

The Bank’s ability to make payments under Subordinated loan agreement through the usual channels is still being limited by the assets freeze restrictions imposed on MKB by the UK’s Office of Financial Sanctions Implementation (OFSI). Although the Bank has applied to OFSI for a Treasury Licence with a view to permitting make such payments, there is no assurance that such Treasury Licence will be granted any time soon. Therefore, MKB is currently considering practical alternatives to facilitate the coupon payment to all investors in its Eurobonds.

For this purpose, MKB encourages holders of the notes (ISIN XS1601094755, US12504PAE07) to contact CREDIT BANK OF MOSCOW directly in order to discuss alternative payment arrangements. The following information should be sent to the following address capital_markets@mkb.ru with subject “Coupon payment” by 10 June 2022:
 

- name of the holder. If held through an intermediary, name and details of the intermediary;

- contact details;      

- number of notes held as of 9th of May 2022 (duly documented);

- place of holding: NSD, Euroclear, Clearstream or DTC;

- jurisdiction of the holder and (if different) the jurisdiction of the applicable intermediary/ account in which the relevant notes are held.

Information so provided will be treated in strictest confidence. Once in receipt of this information, we will contact you to discuss further steps. We would like to emphasize that MKB remains ready and willing to perform its obligations under the issue documentation and has sufficient funds for this purpose. Being a reliable and responsible borrower, MKB is making every possible effort to resolve the situation.