Russia’s Gaz Capital solicits consents for 4¼% loan participation notes

Chicago, Jan. 17 – Gaz Capital SA announced a consent solicitation for its £850 million outstanding 4¼% loan participation notes due 2024 (ISIN: XS1592279522).

The company is asking noteholders to pass an extraordinary resolution in favor of certain proposals.

The issuer would like to remove Deutsche Bank Trust Co. Americas as the current trustee and replace it with i2 Capital Trust Corp. as a new trustee and authorize and direct the new trustee to consent to termination of the swap agreements.

A new trustee would be able to make noteholder payments without routing the payments through swap parties.

Additionally, the termination of the swap agreements would result in operational efficiency and could help eliminate longer cash transfer period caused by operational and technical disruptions outside of the company’s control.

The solicitation is related to international sanctions in connection with events in Ukraine.

The voting deadline is 11 a.m. ET on Feb. 3.

The meeting will be held at 11 a.m. ET on Feb. 7.

Voting instructions are irrevocable.

The solicitation, information and tabulation agent is i2 Capital Markets Ltd. (+44 203 633 1212, gazprom@i2capmark.com, https://i2capmark.com/event-details/71/Holder/gaz-capital-s.a).

The issuer is a Luxembourg-based special purpose vehicle for Gazprom, a Moscow-based natural gas producer.

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