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PJSC Magnitogorsk Iron & Steel Works (MGMOL) has announced a second extension of the Consent Solicitation for its outstanding U.S. $500,000,000 4.375% Notes due 2024. The deadline for consent submission has been moved from June 16 to June 30, 2022, allowing additional time for investors to approve and submit their consent instructions. The Guarantor expressed gratitude for the support from Noteholders and emphasized the importance of participation. Investors are encouraged to contact the Investor Relations department for further information and documentation related to the Consent Solicitation.
PJSC Magnitogorsk Iron & Steel Works (MGMOL) has announced an extension of the Consent Solicitation period for its outstanding U.S. $500,000,000 4.375% Guaranteed Notes due 2024. The original Consent Deadline of June 9, 2022, has been moved to June 16, 2022, to allow more time for Noteholders to submit their Consent Instructions. The company encourages participation and indicates that amendments will be limited to the new deadline, with all other terms remaining unchanged. Related documents will be available upon request.
Magnitogorsk Iron & Steel Works (MGMOL) has initiated a bondholders’ consent solicitation process regarding its $500 million 4.375% Guaranteed Notes due 2024. Payments could face delays or blocks due to EU and UK sanctions, impacting the interest payable to Noteholders. The company assures it has sufficient financial resources to make payments and is preparing necessary documents to comply with sanctions. The Consent Solicitation aims to amend terms to secure rights and interests of Noteholders.
PJSC Magnitogorsk Iron & Steel Works (MGMOL) announced the upcoming coupon payment of $500 million in 4.375% Guaranteed Notes due 2024, scheduled for June 2022. The company is contemplating various strategies to facilitate this payment due to existing uncertainties surrounding cross-border transactions. MMK requests Noteholders to provide specific information regarding their holdings to assist in the payment process. This announcement highlights the company's ongoing financial commitments amid challenges in fund transfers.
