Butovskaya Mine and Tikhova Mine Accesses Deed of Guarantee
OREANDA-NEWS. KOKS Group, the world’s largest exporter of merchant pig iron and a leading producer of merchant coke in Russia, announces that OOO Butovskaya mine and OOO Tikhova mine accessed the deed of guarantee to become Further Guarantors within the deed of guarantee of KOKS Group’s USD 350 million Eurobond loan. According to the loan agreement of the Eurobond loan any subsidiary of OAO KOKS is to become a Further Guarantor as soon as its asset value is above 10% of the consolidated asset value of OAO KOKS.
On 8 April, 2013, OOO Butovskaya Mine and OOO Tikhova Mine (each, a "Further Guarantor") entered into a deed of accession to the deed of guarantee dated 21 June, 2011 between OAO Kombinat KMAruda and KOKS Finance Limited, the issuer of the Eurobond loan. OOO Butovskaya mine and OOO Tikhova mine are substantial subsidiaries in terms of KOKS Group’s further development and their share value. Investors would enjoy better protection of their rights having these enterprises included into the list of guarantors.
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