CBOM FINANCE P.L.C. ANNOUNCES INVITATION FOR 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
30.05.2018
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) (THE “UNITED STATES”) OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
CBOM FINANCE P.L.C. ANNOUNCES INVITATION FOR 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
CBOM Finance p.l.c. (“CBOM”) at the request of CREDIT BANK OF MOSCOW (public joint-stock company) (“CBM”) has today launched invitations to holders (the “Noteholders”) of the U.S.$500,000,000 5.875 per cent. Loan Participation Notes due 2021, of which U.S.$500,000,000 remain outstanding (Regulation S Common Code: 151053467, Regulation S ISIN: XS1510534677) (the “2021 Notes”), and the U.S.$500,000,000 5.550 per cent. Loan Participation Notes due 2023, of which U.S.$500,000,000 remain outstanding (Regulation S Common Code: 175980172, Regulation S ISIN: XS1759801720) (the “2023 Notes”, and together with the 2021 Notes, the “Notes”) to tender for purchase for cash the Notes, up to a maximum aggregate principal amount of U.S.$150,000,000 (the “Maximum Invitation Amount”) across both Series of Notes combined, subject to the offer and distribution restrictions below, and upon the terms and subject to the conditions set forth in an invitation for offers dated 30 May 2018 (as it may be amended or supplemented from time to time, the “Invitation for Offers”) in accordance with a modified Dutch auction procedure for each series of Notes (each, a “Series”). The invitation to tender the Notes for purchase referred to herein as the “Invitation” constitutes a separate Invitation with respect to each Series of Notes and the term “Invitation” shall, where the context so admits, be construed accordingly.
Rationale for the Invitation
CBOM is seeking to repurchase up to U.S.$150,000,000 in aggregate principal amount of the Notes in order to provide a degree of liquidity to Noteholders.
Immediately after the Settlement Date, CBOM intends to sell the Notes purchased pursuant to the Invitation to CBM. CBM intends to hold the Notes for its own account and may sell them in the future. CBM does not currently intend to transfer the Notes to CBOM for cancelation, but may do so in the future.