Russian steel giant Magnitogorsk Iron & Steel Works has notified about 2024 Eurobond coupon payment in June 2022. MMK said “13 June 2022 is the scheduled payment date for the next coupon payment on the MMK International Capital Designated Activity Company loan agreement funded by the issuance of $500 million aggregate principal amount of global bond certificates at 4.375% pa with maturity date in 2024, issued by the Issuer on 13 June 2019. Given the existing uncertainty regarding the transfer and receipt of loan interest and coupon income due to regulatory restrictions in various jurisdictions, particularly, cross-border payments, MMK is considering legal options to facilitate the coupon payment on 13 June 2022.”MMK encourages holders of the Notes to contact MMK as soon as possible to discuss and find an acceptable solution, and requests the following information· Type of Notes in holdings: Regulation S Notes (ISIN: XS1843434959) or Rule 144A Notes (ISIN: US553142AA88)· The number of respective Notes in holdings· The jurisdiction of the relevant holder of the Notes and (if different) the jurisdiction of the account in which the relevant Notes are heldMMK added “MMK has the sufficient liquidity cushion to meet its obligations on due dates, including the Notes coupon payment, and will carry out the available actions to fulfill these obligations.”
Russian steel giant Magnitogorsk Iron & Steel Works has notified about 2024 Eurobond coupon payment in June 2022. MMK said “13 June 2022 is the scheduled payment date for the next coupon payment on the MMK International Capital Designated Activity Company loan agreement funded by the issuance of $500 million aggregate principal amount of global bond certificates at 4.375% pa with maturity date in 2024, issued by the Issuer on 13 June 2019. Given the existing uncertainty regarding the transfer and receipt of loan interest and coupon income due to regulatory restrictions in various jurisdictions, particularly, cross-border payments, MMK is considering legal options to facilitate the coupon payment on 13 June 2022.”MMK encourages holders of the Notes to contact MMK as soon as possible to discuss and find an acceptable solution, and requests the following information· Type of Notes in holdings: Regulation S Notes (ISIN: XS1843434959) or Rule 144A Notes (ISIN: US553142AA88)· The number of respective Notes in holdings· The jurisdiction of the relevant holder of the Notes and (if different) the jurisdiction of the account in which the relevant Notes are heldMMK added “MMK has the sufficient liquidity cushion to meet its obligations on due dates, including the Notes coupon payment, and will carry out the available actions to fulfill these obligations.”
