MTS seeks consents to amend 5% loan participation notes due 2023

By Marisa Wong

Los Angeles, Nov. 21 – Russia’s Mobile TeleSystems PJSC announced a consent solicitation for holders of its outstanding $500 million 5% loan participation notes due 2023 (ISIN: XS0921331509) to consider and pass extraordinary resolutions in order to approve, among other things, the amended payment mechanics to allow for direct payment option in rubles and proposed amendments to the trust deed and the terms and conditions governing the notes, according to a press release.

Voting instructions are due by 8 a.m. ET on Dec. 9.

A meeting will be held via video conference on Dec. 13.

The quorum required for the extraordinary resolution to be considered at the meeting will be one or more persons holding not less than two-thirds of the outstanding principal amount of the notes.

At any adjourned meeting, the quorum will be one or more persons holding not less than one-half of the outstanding notes.

To pass, the extraordinary resolution requires affirmative votes from holders of at least two-thirds in principal amount of the notes represented at the meeting.

Further information may be obtained from the company’s investor relations department (+7 495 223 2025; ir@mts.ru).

MTS is a Moscow-based mobile operator and provider of network-native digital services.

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