The Group believes that the Restructuring will de-lever it to a sustainable level, allowing it to remain operationally competitive and ensuring the viability of the business going forward.
As of the date of this notice, noteholders who, in aggregate, hold approximately 84.93% of the outstanding principal amount of the USD Notes have signed or acceded to the standstill and lock-up agreement executed earlier this month (the “LUA”), in order to facilitate the Restructuring to be implemented by the proposed Scheme.
The Group reiterates that, in accordance with the terms of the LUA, any other holders of the USD Notes who accede to the LUA by 4 October 2017 will still be eligible for Lock-Up Fees. The Group strongly encourages other holders of the USD Notes to accede to the LUA in support of the Restructuring, which the Group believes to be the optimal mutually beneficial solution for both holders of the Notes and the Group.
Noteholders interested in receiving more information regarding the LUA or in acceding to the LUA are directed to follow the link https://www.fesco.ru/en/investor/corporate-bonds/debt-restructuring/ or contacting the Information Agent.
The Group would like to express its gratitude to the holders of the USD Notes, the Ad Hoc Group and its advisors for their continued commitment to the restructuring process. The Group also confirms that all milestone requirements to date pursuant to the LUA have been satisfied.
IR Director, FESCO
+7(495)7806001 ext. 11160
Press Secretary, FESCO
+7(495)7806001 ext. 11014
Further details may be obtained from the Information Agent appointed in respect of the LUA and the Scheme:
Lucid Issuer Services Limited
12 Argyle Walk
London WC1H 8HA
Attention: Alexander Yangaev / Victor Parzyjagla
These materials are not intended to and do not constitute investment advice. These materials do not constitute or form any part of and should not be constructed as an offer or commitment to sell or issue, a solicitation, recommendation, commitment or invitation to subscribe for, underwrite or otherwise acquire, and should not be construed as an advertisement for, any securities of the Issuer or any member of its group in any jurisdiction or an inducement to enter into investment activity in any jurisdiction.