OREANDA-NEWS.  Evraz Group S.A., a wholly owned subsidiary of EVRAZ plc, together with EVRAZ plc announce that Evraz Group S.A. has priced a U.S.$500 million notes issuance with maturity in January 2022, the coupon rate of 6.75% per annum, the current yield of 6.75% and the issue price of 99.983%. The notes will be issued by Evraz Group S.A.

The closing and settlement are expected to be completed on 16 June 2016.

Evraz Group S.A. intends to use the net proceeds of the issue to refinance existing indebtedness, including financing of purchases of the notes listed below to complete the Tender Offers.

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Tender Offers

Pursuant to the tender offers announcement dated 1 June 2016, EVRAZ announces tender offers results as set forth in the table below:

Description of the notes

Minimum Denomination

Purchase Price

 

Notes Accepted for Purchase

Outstanding Principal Amount Following Settlement of the Tender Offers*

U.S.$600,000,000 7.40% Notes due 24 April 2017 issued by the Company (ISIN: XS0652913558; Common Code: 065291355), (the “2017 Notes”)

U.S.$200,000 and integral multiples of U.S.$1,000 thereafter

U.S.$1,050.00 per U.S.$1,000 in principal amount of the 2017 Notes

U.S.$72,979,000

U.S.$176,533,000

U.S.$700,000,000 9.50% Notes due 24 April 2018 issued by the Company (ISIN: XS0359381331; Common Code: 035938133), (the “First 2018 Notes”)

U.S.$100,000 and integral multiples of U.S.$1,000 thereafter

U.S.$1,088.75 per U.S.$1,000 in principal amount of the First 2018 Notes

U.S.$186,230,000

U.S.$137,095,000

U.S.$850,000,000 6.75% Notes due 27 April 2018 issued by the Company (ISIN: XS0618905219; Common Code: 061890521), (the “Second 2018 Notes”)

U.S.$200,000 and integral multiples of U.S.$1,000 thereafter

U.S.$1,032.50 per U.S.$1,000 in principal amount of the Second 2018 Notes

U.S.$70,918,000

U.S.$536,810,000

U.S.$400,000,000 7.75% Loan Participation Notes due 27 April 2017 issued by Raspadskaya Securities Limited (ISIN: XS0772835285; Common Code: 077283528), (the “Raspadskaya 2017 Notes” and, together with other notes listed in the table, the “Existing Notes”)

U.S.$200,000 and integral multiples of U.S.$1,000 thereafter

U.S.$1,050.00 per U.S.$1,000 in principal amount of the Raspadskaya 2017 Notes

U.S.$14,318,000

U.S.$25,855,000

* Existing Notes that are currently held by the Company and/or its subsidiaries are not considered “outstanding” for purposes of this table.

 

 

On or about 17 June 2016 (the “Payment Date”), subject to the conditions described in the Tender Offer Memorandum, the Noteholders will be paid (a) the relevant Purchase Price for the validly tendered and accepted Existing Notes, and (b) the Accrued Interest Amount from (and including) the immediately preceding interest payment date for the relevant Issue of the Existing Notes up to but not including the Payment Date.

The Tender Offers have now expired and no further Existing Notes can be tendered for purchase.

The Existing Notes (other than the Raspadskaya 2017 Notes) acquired in the Tender Offers will be cancelled. The Raspadskaya 2017 Notes purchased pursuant to the Tender Offers will be held by the Evraz Group S.A. for its own account and the Evraz Group S.A. does not currently intend to transfer them to Raspadskaya Securities Limited for purposes of redemption.

Existing Notes that have not been successfully tendered for purchase and accepted by the Evraz Group S.A. pursuant to the Tender Offers and the terms and conditions set out in the Tender Offer Memorandum will remain outstanding and will remain subject to the terms and conditions of such Existing Notes.