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VTB Eurasia Limited (38LU)

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Friday 28 February, 2014

VTB Eurasia Limited

Amendment Notice

RNS Number : 2236B
VTB Eurasia Limited
28 February 2014
 



VTB Eurasia Limited

Grand Canal House

1 Upper Grand Canal Street

Dublin 4

 

Company Announcement

VTB Eurasia Limited (the Issuer)

 

 

28 February 2014

Subordinated Loan Agreement dated 2 August 2012 (as amended by an amendment addendum dated 6 November 2012) (the Original Loan Agreement) as amended by the second amendment addendum dated 21 February 2014 (the Second Amendment Addendum) between the Issuer and JSC VTB Bank (VTB) and Trust Deed dated 6 August 2012 (as amended by a supplemental trust deed dated 8 November 2012) (the Trust Deed) between the Issuer and the Trustee

Terms defined in the Original Loan Agreement, Second Amendment Addendum and the Trust Deed have the same meaning in this Notice unless otherwise defined herein.

This Notice is issued pursuant to Condition 6(c) of the Notes.

VTB and the Issuer hereby notify the Noteholders and the Trustee that:

(A)       On 1 January 2014, Regulation № 395-P which implements the Basel III Documents in Russia came into force for prudential purposes.

(B)       Pursuant to clause 2.7 of the Original Loan Agreement, VTB has elected to amend the Original Loan Agreement by way of the Second Amendment Addendum with a view to the Loan being compliant with the regulatory requirements and continuing to qualify as Tier 1 Capital in full.

(C)       As of 1 February 2014, N1.0 Ratio of VTB is 11.11%, which is 1.11% above the minimum requirement for the N1.0 Ratio applicable to VTB, as required by Clause 2.7 of the Original Loan Agreement.

(D)       The amendments to the Original Loan Agreement contemplated by the Second Amendment Addendum are made in accordance with Clause 2.7 of the Original Loan Agreement.

A copy of the Second Amendment Addendum is attached hereto.

The Directors

VTB Eurasia Limited

Grand Canal House

1 Upper Grand Canal Street

Dublin 4

Ireland 

 

Tel: + 353 1 905 8020

Email: [email protected]

 

DISTRIBUTION RESTRICTIONS

 

The distribution of this Notice and any other documents or materials relating to the amendments which are the subject of this Notice in certain jurisdictions may be restricted by law. Persons into whose possession this Notice and any other documents or materials relating to the amendments which are the subject of this Notice comes are required to inform themselves about, and to observe, any such restrictions. Neither this Notice nor any other documents or materials relating to the amendments which are the subject of this Notice constitutes an offer to buy or a solicitation of an offer to sell the Notes.

 

The communication of this Notice and any other documents or materials relating to the amendments which are the subject of this notice are not being made and such documents and/or materials have not been approved by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000. Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials is only being made to those persons in the United Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the Financial Promotion Order)) or persons who are within Article 43 of the Financial Promotion Order or any other persons to whom it may otherwise lawfully be made under the Financial Promotion Order.

 

This announcement has been issued through the Companies Announcement Service of
the Irish Stock Exchange.
 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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