All of the conditions precedent and implementation steps necessary to effect the restructuring have been satisfied, including the total payment of USD 551.7 million to the holders of the USD Notes in connection with the scheme of arrangement sanctioned by the High Court of Justice of England and Wales on 3 November 2017. As a result of the steps set out above, the claims of all creditors in respect of the USD Notes have been released and discharged.
The Group expresses its gratitude to the holders of the USD Notes for their constructive approach, which has made it possible to reach a solution acceptable to both sides, as well as notes the high professionalism of the both sides’ advisors. The Group would also like to thank VTB Bank for the effective cooperation, which resulted in the provision of a loan to settle a significant portion of the Group's existing debt.
 The amount is calculated in accordance with the Standstill And Lock-Up Agreement and the Explanatory Statement, dated October 11, 2017 and includes the lock-up fees.