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EM-focused Polyus launches consent solicitation to swap trustee
Chicago, June 24 – Polyus Finance plc started a consent solicitation on Friday to approve a replacement trustee, according to an announcement.
The current trustee notified the issuer on May 9 that it is unable to continue acting as trustee due to restrictions and sanctions on certain Russian companies and individuals, sovereign debt restrictions and other sanctions.
The consent solicitation covers three of the issuer’s notes: the $330,007,000 outstanding of the $800 million 5¼% guaranteed notes due 2023 (ISINs: XS1533922933, US73180YAC84), the $322,604,000 outstanding of the $500 million 4.7% guaranteed notes due 2024 (ISINs: XS1713474325, US73181LAA98) and the $700 million outstanding of 3¼% guaranteed notes due 2028 (ISINs: XS2396900685, US73181LAB71).
The consent deadline is 7 a.m. ET on July 4.
Holders representing at least 75% principal amount of the notes for the relevant series must consent in order to implement the proposals.
The record date is July 1.
There is no consent fee payable with respect to the consent solicitation.
The information and tabulation agent is i2 Capital Markets Ltd. (+44 203 633 1212, info@i2capmark.com, https://i2capmark.com/event-details/ 59/Holder/polyus-finance-plc).
Questions can also be directed to the investor relations department of the company of PJSC Polyus (+7 495 641 33 77, ir@polyus.com).
London-based Polyus is a gold producer with mines in Russia and Kazakhstan.
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