Russia’s SUEK gets needed consents to amend 3 3/8% notes due 2026

By Marisa Wong

Los Angeles, Sept. 27 – SUEK Securities DAC announced in a Tuesday press release that the proposals that were part of the consent solicitation for its outstanding $500 million 3 3/8% guaranteed notes due 2026 (ISINs: XS2384174228, US78486MAA80) have become effective.

SUEK began the consent solicitation on Aug. 16 to address problems due to sanctions against Russian entities.

The issuer sought to replace the trustee, defer interest payments to the maturity date, discharge the issuer and guarantors from covenants and certain events of default and reduce the quorum for passing the written resolution.

Replacement of the trustee and the other amendments took effect on Sept. 26.

i2 Capital Markets Ltd. is the information and tabulation agent (+44 203 633 1212, info@iscapmark.com, https://i2capmark.com/event-details/ 55/Holder/suek-securities-dac).

Moscow-based SUEK is one of the world’s largest energy companies and is the largest supplier of thermal coal in Russia.

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