The Ministry of Finance started the procedure of exchange of Eurobonds Russia – 2018 and Russia – 2030 additional bonds Russia-and Russia 2027-2047-hosted to exchange.
The organizers of the exchange are VTB Capital, GPB Bank International S. A. and Sberbank CIB.
The exchange shall be subject to the following conditions:
a) the nominal value of the bonds does not exceed $4 billion;
b) VTB Capital on its own behalf and for own account offers to the owners of the exchanged bonds to sell them to VTB Capital in the manner and on the terms provided published VTB Capital Memorandum of Offer (Tender Offer Memorandum);
C) the holders of the exchanged bonds in the period from 13 September 2017 19 September 2017 direct VTB Capital’s application on redemption of the exchanged bonds, specifying the price and quantity exchanged of bonds (competitive bids) or just specifying the number of the exchanged bonds (non-competitive applications). The price of the exchanged bonds specified in the competitive bids, does not exceed:
for bond MK-0-CM-126 (Russia-2018) – to 107.8% of par value;
for bond No. SC-0-CM-128 (Russia-2030) – 117,5% of the nominal value (subject to depreciation);