Result of Tender Offer

RNS Number : 0097F

Evraz Plc

09 November 2015

 

EVRAZ announced results of the offer to tender Raspadskaya notes

9 November 2015 - EVRAZ plc (LSE: EVR) announced the results of the offer launched on 29 October 2015 by its subsidiary Evraz Group S.A. (the "Offeror") to holders of the outstanding notes due 2017 issued by Raspadskaya Securities Limited to tender their notes for purchase by the Offeror for cash at the purchase price of 100% of the notes plus the accrued interest payment in respect of such notes (the "Offer"). The Offer ended at 5:00 pm (London time) on 6 November 2015. 

Aggregate principal amount of Notes accepted pursuant to the Offer is US$166,182,000.

Following the Offer completion, the Offeror will hold US$214,482,000 of aggregate principal amount of Notes or 53.6% of total principal amount of notes outstanding. It is not intended to cancel the notes immediately after completion of the Offer.

Payments to noteholders in respect of the notes validly tendered and accepted pursuant to the Offer will be made, inter alia, out of the RUB30 billion 5-year credit facility due in 2020 which has been signed with PAO Bank VTB ("VTB Loan").  The proceeds of the VTB Loan will also be used for EVRAZ's other refinancing purposes.

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EVRAZ is a vertically integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, Kazakhstan, USA, Canada, Czech Republic, Italy and South Africa. EVRAZ is among the top steel producers in the world based on crude steel production of 15.5 million tonnes in 2014. A significant portion of the company's internal consumption of iron ore and coking coal is covered by its mining operations. The company's consolidated revenues for the year ended 31 December 2014 were US$13,061 million, and consolidated EBITDA amounted to US$2,325 million.

 

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