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Prospect News home > News index > List of issuers E > Headlines for EuroChem Group AG > News item
Published on 9/26/2016 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

Russia’s EuroChem tenders for 5 1/8% loan participation notes due 2017

By Angela McDaniels

Tacoma, Wash., Sept. 26 – EuroChem Global Investments Designated Activity Co. began a tender offer for the $750 million 5 1/8% loan participation notes due 2017 issued to finance a loan to EuroChem Mineral and Chemical Co. JSC and guaranteed by EuroChem Group AG.

The issuer is offering $1,036.50 per $1,000 principal amount of notes plus accrued interest.

The offer will end at 11 a.m. ET on Oct. 4, and the settlement date is expected to be Oct. 13.

All notes purchased in the offer will be canceled.

The tender offer is conditioned on the completion of a new issue of loan participation notes, the proceeds of which will be used to fund the tender offer.

Noteholders who wish to subscribe for new notes in addition to tendering notes for purchase can receive priority in the allocation of the new notes. The priority in allocation will be given for a principal amount of new notes not exceeding the principal amount of notes tendered.

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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