Information about Eurobond coupon payments

Information about Eurobond coupon payments

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10 Aug 2022

10 August 2022 — PJSC ALROSA announces fulfilment of its Eurobond obligations in accordance with requirements of Russian legislation.

As previously advised, as a result of the sanctions imposed on PJSC ALROSA (the "Company") and Alrosa Finance S.A., the issuer of two Note issues of Eurobonds in the amount of USD 500,000,000 each, maturing in 2024 and 2027, for which the Company acts as the guarantor, as well as other sanctions imposed by the United States of America, the European Union, and the United Kingdom in relation to the Russian Federation and Russian individuals, it has proven technically impossible for the Company to fulfil its regular coupon payment obligations on 9 April 2022 and 25 June 2022 under each of the Note issues (“the Coupons”).

In accordance with the Russian Federation Presidential Decrees No. 95, dated 5 March 2022, and No. 430, dated 5 July 2022, on 10 August 2022, the Company transferred funds to JSD NSD (National Settlement Depository) for onward transfer to Eurobond holders whose rights are recorded in  the Russian depository infrastructure in accordance with the registers of Eurobond holders collated by 1 August 2022 as a result of the procedure to identify holders of ALROSA Eurobonds conducted by JSD NSD. The Coupon payments were made in Russian Federation roubles in accordance with the procedure determined by the Board of Directors of the Bank of Russia and stipulated in the Bank of Russia official clarification No.6-OR, dated 20 May 2022.

The fulfilment of Eurobond coupon payment obligations as stipulated in the terms and conditions of the issuing documentation to holders whose rights are registered in foreign depository infrastructure (in particular through the Euroclear, Clearstream, and DTC settlement and clearing systems) remains technically impossible due to the sanctions imposed on the Company.

The Company is fully committed to its Eurobond payment obligations, and is taking all possible steps and measures to protect the interests of all its Eurobond holders in equal measure. The Company is considering possible ways in which it might fulfil its obligations in the current circumstances.

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Eurobond coupon payment announcement