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Prospect News home > News index > List of issuers L > Headlines for Lukoil Capital DAC > News item
Published on 9/6/2022 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

Russia’s Lukoil solicits consents for five series due to sanctions

Chicago, Sept. 6 – PJSC Lukoil started consent solicitations for five notes on Monday, according to an announcement.

The solicitations cover the following:

• $1.5 billion 4.563% notes due 2023 (ISIN: XS0919504562, US549876AH32) issued by Lukoil International Finance BV and guaranteed by Lukoil;

• $1 billion 4¾% notes due 2026 (ISIN: XS1514045886, US549876AL44) issued by Lukoil International and guaranteed by Lukoil;

• $1.15 billion 2.8% notes due 2027 (ISIN: XS2401571448, US549875AA06) issued by Lukoil Capital DAC and guaranteed by Lukoil;

• $1.5 billion 3 7/8% notes due 2030 (ISIN: XS2159874002, US54988LAB27) issued by Lukoil Securities BV and guaranteed by Lukoil; and

• $1.15 billion 3.6% notes due 2031 (ISIN: XS2401571521, US549875AB88) issued by Lukoil Capital and guaranteed by Lukoil.

The company is seeking approval for extraordinary resolutions for the notes.

First, the company wants to use i2 Capital Trust Corp. Ltd. as the trustee, replacing Citicorp Trustee Co. Ltd.

The amendments would introduce alternative payment mechanics.

There would also be a simplified procedure of the notes’ cancellation.

Lukoil is also seeking waivers from noteholders based on problems from sanctions.

There are two separate extraordinary resolutions that need approval, one for the trustee appointment and the second for the amendments and waivers.

Voting instructions are due by 1 p.m. ET on Sept. 26.

The record date is Sept. 19.

i2 Capital Trust Corp. is the information and tabulation agent (lukoilconsent@i2capmark.com, https://i2capmark.com/event-details/ 78/Holder/lukoil-consent).

Questions can also be directed to the company at ir@lukoil.com.

The oil and gas company is based in Moscow.


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