PAO Severstal: Update on the situation regarding the coupon payment for the Eurobond 2024 (1318277)
01 Abril 2022 - 5:00AM
UK Regulatory
PAO Severstal (SVST) PAO Severstal: Update on the situation
regarding the coupon payment for the Eurobond 2024 01-Apr-2022 /
14:00 MSK Dissemination of a Regulatory Announcement that contains
inside information according to REGULATION (EU) No 596/2014 (MAR),
transmitted by EQS Group. The issuer is solely responsible for the
content of this announcement.
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Update on the situation regarding the coupon payment for the
Eurobond 2024
PAO Severstal (MOEX: CHMF; LSE: SVST) informs that further to
our latest disclosures to the holders of the LPNA dated the 23rd
and 29th of March 2022 regarding the pending interest payment on
the loan relating to Loan Participation Notes due 2024 (LPN) issued
by Steel Capital S.A. (the "Issuer") in the amount of USUSD12,6
mln, on 31 March 2022 Severstal also filed license applications
with the UK Office of Financial Sanctions Implementation (OFSI) and
the competent sanctions authorities in Luxembourg and Ireland. This
complements the filings to the United States Office of Foreign
Assets Control that Severstal made on the 28th of March 2022.
These applications request that OFSI and other relevant
competent authorities in the European Union grant specific licenses
authorizing, to the extent such authorization is required under
applicable sanctions, the financial institutions and other parties
involved in the LPN program to resume normal processing of payments
that are or become due under the LPN program. This would include
the transfer of the interest due to the Issuer to the latter's bank
account with the Paying Agent (Citibank, N.A., London Branch), and
the normal onward payment of those funds on behalf of the Issuer
towards the holders of the LPN.
Mindful of the urgency of the matter we have requested that the
relevant competent authorities consider our application on an
expedited basis.
Severstal will keep all interested parties informed of the
progress of the submitted license applications.
For further information, please contact:
Severstal Investor Relations
Vladimir Zaluzhsky, Nikita Klimantov
T: +7 (495) 926-77-66
vladimir.zaluzhsky@severstal.com; na.klimantov@severstal.com
Severstal Public Relations
Anastasia Mishanina
T: +7 (495) 926-77-66
anastasia.mishanina@severstal.com
***
P?? Severstal is one of the world's most efficient metals and
mining companies, working with customers and partners to create new
products and integrated solutions from steel. The company's assets
are located in Russia, Latvia and Poland. Severstal is listed on
MOEX and the company's GDRs are traded on the LSE. Severstal
reported revenue of USD11.6 million and EBITDA of USD6 bln in 2021.
Severstal's crude steel production in 2021 reached 11.6 million
tonnes.
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ISIN: US8181503025
Category Code: MSCH
TIDM: SVST
LEI Code: 213800OKDPTV6K4ONO53
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 153163
EQS News ID: 1318277
End of Announcement EQS News Service
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