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Prospect News home > News index > List of issuers Tenders > Headlines for 2022 > News item
Published on 7/1/2022 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

EM-focused Polyus extends consent solicitation to swap trustee

By William Gullotti

Buffalo, N.Y., July 1 – Polyus Finance plc extended its consent solicitation to approve a replacement trustee, according to an announcement on Friday.

The consent deadline has been extended to 12 p.m. ET on July 14 from 7 a.m. ET on July 4. The record date for the solicitation has been extended to July 13

The company stated that noteholders who have already delivered consent instructions are asked to redeliver those consents because of the extensions.

All other terms of the consent solicitation will remain the same, unless further extended or earlier terminated by the company.

As previously reported on June 24, 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).

Holders representing at least 75% principal amount of the notes for the relevant series must consent in order to implement the proposals.

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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