Russia’s KOKS gets no more tenders for 7˝% notes since early date

By Susanna Moon

Chicago, Oct 10 – KOKS Finance DAC said investors had tendered no more of its 7˝% loan participation notes due 2022 since the early deadline at 5 p.m. ET on Sept. 24.

As previously announced, holders had tendered $68,071,000 of the company’s $468.9 million outstanding 7˝% notes as of the early deadline.

The tender offer ended at 11:59 p.m. ET on Oct. 9.

KOKS accepted for purchase all of the tendered notes with settlement on Sept. 27, according to an update.

As announced Sept. 11, the issuer was tendering for up to $100 million of the $500 million notes sold for the purpose of financing a loan to PJSC KOKS.

The total purchase price was $995 per $1,000 principal amount, which included an early tender premium of $30 per $1,000 of notes tendered before the early deadline.

Holders who tendered after the early deadline would have received the total amount less the early premium.

The company will also play accrued interest.

VTB Capital plc (+44 20 3334 88029 or liability.management@vtbcapital.com) is a joint dealer manager, along with Citigroup Global Markets Ltd. (+44 20 7986 8969, 212 723-6106, 800 558-3745 or liabilitymanagement.europe@citi.com) and GPB-Financial Services Ltd. (+7 499 271 9154 / +7 495 988 2353 or liability.management@gazprombank.ru), according to an update on Friday.

The tender agent is Citibank, NA, London Branch (exchange.gats@citi.com or +44 20 508 3867).

KOKS Finance is a subsidiary of KOKS Group, a coke and pig iron producer and miner based in Moscow.

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