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Prospect News home > News index > List of issuers E > Headlines for EuroChem Global Investments DAC > News item
Published on 10/5/2016 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

Russia’s EuroChem gets tenders for $425 million 5 1/8% notes due 2017

By Susanna Moon

Chicago, Oct. 5 – EuroChem Global Investments DAC said investors had tendered $425,067,000 of 5 1/8% loan participation notes due 2017 in the offer that ended at 11 a.m. ET on Oct. 4.

After settlement on Oct. 13, there will be $324,933,000 of the notes left outstanding, according to a company notice.

The company began tendering for the notes on Sept. 26 at a purchase price of $1,036.50 per $1,000 principal amount of notes plus accrued interest.

As announced, the $750 million of 5 1/8% notes were issued to finance a loan to EuroChem Mineral and Chemical Co. JSC and guaranteed by EuroChem Group AG.

The offer is contingent on the issue of new loan participation notes, with proceeds to be used to fund the tender.

Noteholders who subscribed for new notes in addition to tendering in the offer will receive priority in the allocation of the new notes.

The joint dealer managers are Citigroup Global Markets Ltd. (44 20 7986 8969 or liabilitymanagement.europe@citi.com), Goldman Sachs International (44 20 7774 9862 or liabilitymanagement.eu@gs.com), HSBC Bank plc (44 20 7992 6237 or liability.management@hsbcib.com), ING Bank NV, London Branch (44 20 7767 5107 or liability.management@uk.ing.com), J.P. Morgan Securities plc (44 20 7134 2468 or em_europe_lm@jpmorgan.com) and CJSC Sberbank CIB/SIB (Cyprus) Ltd. (7 495 787 2363 or liability_management@sberbank-cib.ru).

The tender agent is Citibank, NA, London Branch (https://debtxportal.issuerservices.citigroup.com, 44 20 7508 3867 or exchange.gats@citi.com).

EuroChem Mineral and Chemical is a fertilizer company based in Moscow and a subsidiary of Zug, Switzerland-based EuroChem Group. It was formerly OJSC EuroChem Mineral and Chemical Co. The note issuer was formerly EuroChem Global Investments Ltd.


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