PJSC Magnitogorsk Iron & Steel Works (MOEX: MAGN) (“MMK”)
notifies of the issuance of Russian law-governed notes (the
“Replacement Notes”) to exchange U.S. $500,000,000 4.375%
guaranteed notes due 2024, issued by MMK International Capital DAC
(ISIN: XS1843434959 / US553142AA88) (the “Guaranteed Notes”).
The Replacement Notes are to be issued in
compliance with the requirements of Order of the President of the
Russian Federation No. 430 “On the repatriation by residents
participating in foreign economic activity of foreign currency and
the currency of the Russian Federation” dated 5 July 2022.
The principal terms of the Replacement Notes (the
amount, timing of coupon payments, the maturity date and principal
amount) are on par with the existing Guaranteed Notes. The first
coupon payment on the Replacement Notes due in December 2022 will
include the amount of a coupon payment accrued on the Guaranteed
Notes which was due from MMK International Capital DAC on 13 June
2022 under the Eurobonds. Payments due under the Replacement Notes
will be made by MMK in Russian roubles, where an amount due in US
dollars will be converted to Russian roubles at the Bank of Russia's
exchange rate for the pair Russian rouble / US dollar on the relevant
payment date.
The period for submitting offers by the holders of
the Guaranteed Notes to exchange the Guaranteed Notes for the
Replacement Notes will commence on 24 November 2022 (9 a.m. Moscow
time) and terminate on 2 December 2022 (4 p.m. Moscow time).
Instructions describing the exchange procedure of
the Guaranteed Notes can be found here.
To fill out an offer to exchange the Guaranteed
Notes for the Replacement Notes please visit
https://mmk.ru/ru/oferta/.
IMPORTANT
NOTICE: If you are considered to be a retail investor, before
filling the offer, we kindly ask you to contact your broker regarding
the exchange of the Guaranteed Notes for the Replacement Notes.
The full information about the exchange procedure
of the Guaranteed Notes can be found at
https://mmk.ru/en/investor/info-for-investors/bonds/.
For all questions relating to the Replacement
Notes, please contact MMK at notes@mmk.ru.
Investor Relations
Department
Ilya Nechaev
+7 (909) 093-08-98
nechaev.ia@mmk.ru
Communications
Department
Dmitriy Kuchumov
+7 (499) 238-26-13
kuchumov.do@mmk.ru
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