Polyus places convertible Eurobonds in the amount of $250 million maturing in 2021, according to the materials of the company.
The bonds can be convertytorow in Global Depositary receipts of Polyus (listing on the London stock exchange).
The Issuer will perform a subsidiary of Polyus Finance PLC, established in accordance with the laws of England and Wales. Guarantee on the securities will provide PJSC “Polyus and OJSC Polyus Krasnoyarsk”.
Funds from the placement of Polyus plans to direct for refinancing of debt and General corporate purposes.
It is assumed that coupon income on the bonds range from 0.50 to 1.00% per annum and will be payable every six months.
The conversion price will be set at 30 to 35% to basic price (volume-weighted price of the GDR for the period from the start of placement to determine the price 19 January 2018).
The bonds will be issued and redeemed at 100% of their nominal value; maturity of the bonds – January 26, 2021, if they are not redeemed, converted or cancelled earlier.
Placement and pricing is scheduled for January 26, 2018.
The organizers of the transaction: Deutsche Bank AG, London Branch, J. P. Morgan Securities plc and SIB (Cyprus) Limited.