Issue of an Optional Redemption Notice in relation Convertible Bonds due 2022 (1178150)
March 24 2021 - 12:30PM
UK Regulatory
PAO Severstal (SVST)
Issue of an Optional Redemption Notice in relation Convertible Bonds due 2022
24-March-2021 / 19:30 MSK
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014
(MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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Issue of an Optional Redemption Notice in relation to U.S. USD250,000,000 Zero Coupon Convertible Bonds due 2022 (the
"Bonds") issued by Abigrove Limited (the "Issuer") and guaranteed by PAO Severstal (the "Company")
24 March 2021
The Issuer announces today an Optional Redemption Notice to exercise the Redemption at the option of the Issuer in
relation to U.S. USD250,000,000 Zero Coupon Convertible Bonds due 2022 in accordance with article 9(B)(i) of Terms &
Conditions of the Bonds.
28th April 2021 is set as Early Redemption Date, on which the Issuer will redeem the Bonds then outstanding at 100% of
their Principal Amount.
The Optional Redemption Notice is provided given that the Aggregate Value of the GDRs to which a Bondholder would be
entitled, upon exercise of the Conversion Right attaching to a Bond in the principal amount of U.S.USD200,000 on
respective dealing day, has been exceeding U.S.USD260,000 during not less than 20 dealing days in the period of 30
consecutive dealing days ending seven days prior to the date of the Optional Redemption Notice.
Bondholders will have the right, subject to a cash settlement option at the discretion of the Issuer, to convert their
bonds into GDRs.
The Company does not expect the optional redemption to materially affect its credit profile and dividend payments.
This announcement contains inside information for the purposes of the UK version of the Market Abuse Regulation (EU)
No.596/2014.
For further information, please contact:
Investor Relations
Vladimir Zaluzhsky
T: +7 (495) 926-77-66
vladimir.zaluzhsky@severstal.com
Public Relations
Anastasia Mishanina
T: +7 (495) 926-77-66
anastasia.mishanina@severstal.com
***
P?? Severstal is one of the world's leading vertically integrated steel and steel related mining companies, with assets
in Russia, Latvia and Poland. Severstal is listed on MOEX and the company's GDRs are traded on the LSE. Severstal
reported revenue of USD6,870 million and EBITDA of USD2,422 million in 2020. Severstal's crude steel production in 2020
reached 11.3 million tonnes. www.severstal.com
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ISIN: US8181503025
Category Code: MSCL
TIDM: SVST
LEI Code: 213800OKDPTV6K4ONO53
Sequence No.: 96206
EQS News ID: 1178150
End of Announcement EQS News Service
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