EM-focused Evraz to issue new notes with tender offer

By Christine Van Dusen and Susanna Moon

Atlanta, March 2 – Emerging markets-focused Evraz Group SA is planning to issue new notes with a tender offer for any and all of two series of notes and up to $300 million of one other series, according to a company announcement.

In the any-and-all offer, the purchase price for each $1,000 principal amount is as follows:

• $1,080 for the $125,095,000 of outstanding $700 million 9½% notes due April 24, 2018; and

• $1,053.75 for the $527.41 million of outstanding $850 million 6¾% notes due April 27, 2018.

In the capped offer, the company is tendering for its $1 billion of 6½% notes due April 22, 2020 at a purchase price of $1,075 for each $1,000 principal amount.

The tender offers will end at 5 p.m. ET on March 10, with payment set for March 15 for the 2018 notes and March 21 for the 2020 notes.

Noteholders who tender their notes and also subscribe to the new notes may apply for an allocation identifier code, which may give them priority in the allocation of new notes.

The joint dealer managers are Bank GPB International SA, Citigroup Global Markets Ltd., Deutsche Bank AG, London Branch, J.P. Morgan Securities plc and VTB Capital plc.

Evraz is a vertically integrated steel making and mining company based in London with operations mainly in Russia.

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