MKB paid coupon on Eurobonds CBOM'17-perp, CBOM-24 and CBOM'21-perp to noteholders in Russian depositories
08.08.2022
Please be informed about the status of the 8.875% subordinated perpetual USD Notes (ISIN - XS1601094755, US12504PAE07) (CBOM’17-perp), 7.121% senior USD Notes due 25 June 2024 (ISIN - XS1964558339, US12504PAG54) (CBOM-24) and 7.625% subordinated perpetual USD Notes (ISIN - XS2392969395, US12504PAK66) (CBOM’21-perp) (together - “the Eurobonds” or the “Notes”) coupon payments.
On August 5, 2022 MKB (“the Bank”) transferred coupon payments on the Eurobonds to the National Settlement Depository (“the NSD”) in Russian rubles at the CBR exchange rate as of the date of payment in favour of noteholders whose rights in respect of the Eurobonds are recorded by Russian depositories with the participation of foreign depositories (Euroclear, Clearstream, DTC). The funds will be transferred to the holders of securities through the infrastructure of the NSD, bypassing foreign intermediaries.
The payment is made in accordance with the Executive Order dated March 5, 2022 No. 95 "On Temporary Procedures for Meeting Loan Obligations to Certain Foreign Creditors" and the Executive Order dated July 5, 2022 No. 430 "On the Repatriation by Residents Participating in Foreign Economic Activity of Foreign Currency and the Currency of the Russian Federation".
The imposed sanctions restrictions make technically impossible for MKB to process payments as it is stipulated in the Eurobonds’ issue documentation. Thereby MKB took the decision to separate payments in favour of Russian noteholders and international noteholders. Earlier MKB paid coupons on the above stated Eurobonds in favour of the noteholders whose rights in respect of the Eurobonds are recorded with the National Settlement Depository.
We also want to assure the investors, who have not received coupon payments due to the sanctions, previously imposed on MKB, - we are still looking for an opportunity to make the payments. Fulfillment of payment obligations under Eurobonds remains a priority for MKB.
For any additional information, please contact Investor Relations and Capital Markets team: capital_markets@mkb.ru.