Ukraine’s Metinvest starts Dutch auction offer for notes due 2023

Chicago, Nov. 28 – Metinvest BV started a modified Dutch auction tender offer for $70 million maximum consideration of its $168,583,000 outstanding fixed-rate senior notes due 2023 (ISIN: XS1806400534), according to an announcement.

There were originally $944,515,000 of the notes issued.

Noteholders who wish to submit competitive tender bids should specify a price between $700 to $800 per $1,000 note.

Non-competitive offers from noteholders who either do not submit a specified price and therefore are deemed to have submitted a $700 bid, or submit a bid less than the minimum price, will be given priority in the tender offer.

The late purchase price will be the purchase price less $30 per note.

Tenders may be subject to proration.

The offer started on Nov. 28.

The early tender deadline and the withdrawal deadline are 5 p.m. ET on Dec. 9.

Results will be announced on Dec. 12.

Early settlement is planned for Dec. 14.

The offer expires at 11:59 p.m. ET on Dec. 23.

Final settlement is planned for Dec. 29.

The dealer managers are Deutsche Bank AG (+44 20 7545 8011) and Raiffeisen Bank International AG (+43 1 717 07 1039, rbi-tm@rbinternational.com, bondsyndication@rbinternational.com).

Kroll Issuer Services Ltd. is the tender and information agent (+44 20 7704 0880, metinvest@is.kroll.com).

Metinvest is a Mariupol, Ukraine-based holding company of a group of steel and mining companies.

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