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CBOM Finance Plc (IRSH)

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Monday 11 June, 2018

CBOM Finance Plc

CBOM announces results of Tender Offer

RNS Number : 9384Q
CBOM Finance Plc
11 June 2018
 

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) (THE "UNITED STATES") OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

11 June 2018

CBOM FINANCE P.L.C. ANNOUNCES RESULTS OF INVITATION FOR OFFERS TO SELL FOR CASH THE U.S.$500,000,000 5.875 PER CENT. LOAN PARTICIPATION NOTES DUE 2021 AND U.S.$500,000,000 5.550 PER CENT. LOAN PARTICIPATION NOTES DUE 2023

On 30 May 2018, CBOM Finance p.l.c. ("CBOM") at the request of CREDIT BANK OF MOSCOW (public joint-stock company) ("CBM") launched invitations to holders (the "Noteholders") of the U.S.$500,000,000 5.875 per cent. Loan Participation Notes due 2021, of which U.S.$500,000,000 remain outstanding (Regulation S Common Code: 151053467, Regulation S ISIN: XS1510534677) (the "2021 Notes"), and the U.S.$500,000,000 5.550 per cent. Loan Participation Notes due 2023, of which U.S.$500,000,000 remain outstanding (Regulation S Common Code: 175980172, Regulation S ISIN: XS1759801720) (the "2023 Notes", and together with the 2021 Notes, the "Notes") to tender for purchase for cash the Notes, up to a maximum aggregate principal amount of U.S.$150,000,000 (the "Maximum Invitation Amount") across both Series of Notes combined, subject to the offer and distribution restrictions below, and upon the terms and subject to the conditions set forth in an invitation for offers dated 30 May 2018 (as it may be amended or supplemented from time to time, the "Invitation for Offers") in accordance with a modified Dutch auction procedure for each series of Notes (each, a "Series"). The invitation to tender the Notes for purchase referred to herein as the "Invitation" constitutes a separate Invitation with respect to each Series of Notes and the term "Invitation" shall, where the context so admits, be construed accordingly.

Capitalised terms used in this announcement but not otherwise defined have the meanings given to them in the Invitation for Offers.

Results of the Invitation

The Invitation expired at 4:00 p.m. (London time) on 8 June 2018. As at the Expiration Time, the aggregate principal amount of 2021 Notes and 2023 Notes validly tendered is equal to U.S.$68,722,000 and U.S.$80,045,000, respectively (U.S.$148,767,000 in aggregate principal amount of both Series of Notes). CBOM hereby announces that it has accepted for purchase an aggregate principal amount of 2021 Notes and 2023 Notes equal to U.S.$12,839,000 and U.S.$43,005,000, respectively (U.S.$55,844,000 in aggregate principal amount of both Series of Notes), at the relevant Purchase Price, as set out in the table below:



 

Description of the Notes





Regulation S ISIN/Common Code

Outstanding Principal Amount on Launch of the Invitation

Purchase Price

Aggregate Principal Amount of Notes Accepted for Purchase







Pro-ration Factor

Outstanding Principal Amount following the Settlement of the Invitation(1)

U.S.$500,000,000 5.875 per cent.

Loan Participation

Notes due 2021

XS1510534677/ 151053467

U.S.$500,000,000

U.S.$977.50 per U.S.$1,000

principal amount

U.S.$12,839,000



N/A

U.S.$487,161,000

U.S.$500,000,000 5.550 per cent.

Loan Participation

Notes due 2023

XS1759801720/ 175980172

U.S.$500,000,000

U.S.$955.00 per U.S.$1,000 principal amount

U.S.$43,005,000



N/A

U.S.$456,995,000

 

(1)                    Immediately after the Settlement Date, CBOM intends to sell the Notes purchased pursuant to the Invitation for Offers to CBM. CBM intends to hold the Notes for its own account and may sell them in the future. CBM does not currently intend to transfer the Notes to CBOM for cancellation, but may do so in the future.

Settlement

The Settlement Date is expected to be on 14 June 2018.

The Noteholders who validly tendered the Notes and whose Notes have been accepted for purchase by CBOM pursuant to the Invitation will receive on the Settlement Date (i) the Purchase Price and (ii) the Accrued Interest.

For Further Information

Further details about the Invitation can be obtained from:

The Joint Dealer Managers

Citigroup Global Markets Limited

Citigroup Centre, Canada Square

London E14 5LB

United Kingdom

Tel: +44 (0) 20 7986 8969

Email: [email protected]

 

Société Générale

10 Bishops Square

London E1 6EG

United Kingdom

For information by telephone:

London: +44 20 7676 7680

Email: [email protected]

 

Sova Capital Limited

12 Floor 88 Wood Street

London EC2V 7RS

United Kingdom

Tel: +44 (0) 20 7826 8200

Email: [email protected]

 

The Tender Agent

 

Lucid Issuer Services Limited

Tankerton Works

12 Argyle Walk

London WC1H 8HA

United Kingdom

Attention: Thomas Choquet / Alexander Yangaev

Telephone: +44 (0) 20 7704 0880

Email: [email protected]

Website: www.lucid-is.com/cbom

 

 

 

 

 

 

 

 

This announcement has been issued through the Companies Announcement Service of Euronext Dublin.

 

 


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