LONDON--(BUSINESS WIRE)--
JOINT STOCK COMPANY “RUSSIAN STANDARD BANK” (“RSB”) ANNOUNCES RESULTS OF TENDER OFFER FOR NOTES DUE IN 2015, 2016 AND 2017 ISSUED TO FINANCE LOANS TO RSB
Joint Stock Company “Russian Standard Bank” (“RSB”) announces the results of its invitations to qualifying holders of the outstanding notes detailed in the table below, issued by (but with limited recourse to) Russian Standard Finance S.A. for the purpose of financing loans to RSB (together, the “Notes”), to tender their Notes for purchase by RSB for cash (each such invitation in respect of one issue of Notes, an “Offer” and, together, the “Offers”) at prices determined pursuant to a modified Dutch auction.
RSB proposes to purchase the aggregate principal amount of each issuance of Notes specified in the table below. All Notes offered for purchase at or below the relevant Purchase Price will be accepted without pro-ration.
RSB will also pay an amount equal to accrued and unpaid interest in respect of all Notes validly tendered and accepted for purchase by RSB. The settlement of the Offers is expected to occur on 2 April 2015.
| Description of the Notes |
ISIN / Common Code |
Acceptance Amount | Scaling Factor | Purchase Price | |||||
| U.S.$200,000,000 7.73 per cent. Loan Participation Notes due December 2015 (the "2015 Notes") | XS0238091507/ 23809150 | U.S.$ 12,242,000 | Not Applicable | U.S.$950 per U.S.$1,000 in aggregate principal amount | |||||
| U.S.$200,000,000 7.561 per cent. Loan Participation Notes due December 2016 (the "2016 Notes") | XS0275728557/ 027572855 | U.S.$ 11,712,000 | Not Applicable | U.S.$800 per U.S.$1,000 in aggregate principal amount | |||||
| U.S.$525,000,000 9.25 per cent. Loan Participation Notes due July 2017 (the "2017 Notes" and, together with the 2015 Notes and the 2016 Notes, the "Notes") | XS0802648955/ 080264895 | U.S.$ 14,670,000 | Not Applicable | U.S.$1,000 per U.S.$1,000 in aggregate principal amount |
Capitalised terms used in this announcement but not otherwise defined have the meanings given to them in the Tender Offer Memorandum dated 23 March 2015 (the "Tender Offer Memorandum").The complete terms and conditions of the Offers are set forth in the Tender Offer Memorandum.
THE TENDER AGENT
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Lucid Issuer Services Limited
Telephone: +44 20 7704 0880 |
This announcement must be read in conjunction with the Tender Offer Memorandum. No Offer is being made pursuant to this announcement.