PJSC Polyus (LSE, MOEX — PLZL) (Polyus or the Company) notes the announcement made earlier by Polyus Finance plc (the Offeror), an indirect wholly-owned subsidiary of the Company incorporated under the laws of England and Wales, of the results of the tender offers made by the Offeror to the holders of its notes due 2020, 2022, 2023 and 2024 (the Notes, Series) to tender such notes for purchase at prices determined pursuant to a Modified Dutch Auction. J.P. Morgan Securities plc acted as Dealer Manager in respect of the Offer.
The Offeror accepted for purchase U.S.$131,778,000 in aggregate principal amount of notes across all the Series. The Purchase Price, Series Acceptance Amount and Scaling Factor for each of the Series is set out in the announcement made earlier by the Offeror and is attached hereto as Exhibit A.
The settlement of the tender offers is expected to be on or about 26 September 2018. Investors should refer to the Tender Offer Memorandum for full details of the Tender Offer.
Mikhail Stiskin, Senior Vice President, Finance and Strategy, commented:
Polyus has successfully used an opportunity arising from the heightened volatility to perform a timely liability management — we lowered our cost of financing while improving the maturity profile. Public debt instruments remain the core of our financing strategy.
Polyus is the largest gold producer in Russia and one of the top ten gold miners globally with the lowest cost position. Based on its 2017 Ore Reserves and Mineral Resources, Polyus group ranks second both by attributable gold reserves and gold resources among the world’s largest gold mining companies.
The Polyus group’s principal operations are located in Krasnoyarsk, Irkutsk and Magadan regions and the Sakha Republic (Yakutia).
Victor Drozdov, Director Investor Relations
+7 (495) 641 33 77
Victoria Vasilyeva, Director Public Relations
+7 (495) 641 33 77
Date: 24 September 2018
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
POLYUS FINANCE PLC ANNOUNCES RESULTS OF THE TENDER OFFERS FOR ITS NOTES DUE 2020, 2022, 2023 AND 2024
Polyus Finance plc (the Offeror) announces the results of its invitations to eligible holders of its outstanding notes detailed in the table below, issued by it and guaranteed by Joint Stock Company Polyus Krasnoyarsk (JSC Polyus) and Public Joint Stock Company Polyus (PJSC Polyus and together with JSC Polyus, the Guarantors) (each of the issuances of notes referred to below, a Series, and all outstanding notes of all Series together, the Notes), to tender their Notes for purchase by the Offeror for cash (each such invitation, an Offer and, together, the Offers) at prices to be determined pursuant to a Modified Dutch Auction, as further set out in the table below.
Capitalised terms used in this announcement but not otherwise defined have the meanings given to them in the tender offer memorandum dated 14 September 2018 (Tender Offer Memorandum) issued by the Offeror.
The Offers expired at 16:00 hours, London time, on Friday 21 September 2018.
The Offeror has accepted for purchase the Notes as set out in the table below:
All the Notes that have been validly tendered at or below the respective Purchase Prices and received by the Information and Tender Agent have been accepted in full without pro-ration.
The Settlement Date is expected to be on or about 26 September 2018.
Any Notes purchased by the Offeror in the Offers will be transferred to and held by the Offeror in accordance with the terms and conditions of the Notes and, if decided by the Offeror in its sole discretion, may be cancelled in full or in part immediately after or at any time following completion of the Offers.
Offer and distribution restrictions apply. Investors should refer to the Tender Offer Memorandum for full details. If you need further information about the Offers, please contact the Dealer Manager or the Information and Tender Agent.
Offer Website: sites.dfkingltd.com/polyus
J.P. Morgan Securities plc
25 Bank Street
+7 (495) 641 33 77
London E14 5JP
For information by telephone:
+44 20 7134 2468
Attention: Liability Management
The information and tender agent
D.F. King Ltd.
125 Wood Street
London EC2V 7AN
Telephone: +44 20 7920 9700