09/10/2018

Press release: SIBUR plans Eurobond buyback in the amount of up to $US 200 mln

Moscow, 9 October 2018. PJSC SIBUR Holding, the largest integrated petrochemicals company in Russia, today announces a Eurobond buyback plan in the amount of up to $US 200 million, targeting the Company’s 2023 Eurobond notes.

SIBUR has launched the buyback offer on the Company’s only outstanding Eurobond notes, placed in October 2017 in the amount of $US 500 million, and which are due in 2023 with a 4.125% coupon. The Company intends to repurchase up to $200 million worth of the Eurobonds at 97.4% of the nominal price of the notes. The transaction will be financed using the Company’s current excess liquidity.

CitigroupGlobal Markets Limited и J.P. Morgan Securities PLC will act as dealer managers on the transaction. Eligible holders may submit their tender instructions between 9 October and 17 October 2018.  Settlement is expected to take place on 19 October 2018. The buyback will be carried out by Sibur Securities DAC (the “Issuer”, a 100% Subsidiary of PJSC SIBUR Holding) on behalf of PJSC SIBUR Holding (the “Guarantor”).

Dmitry Konov, Chairman of the Management Board of SIBUR Holding, said: “SIBUR’s loan portfolio is well balanced, while the Company consistently delivers robust operating results and strong liquidity, which will only improve once our ZapSibNefteKhim facilities come into operation. As such, in the current market environment we see the opportunity to reduce interest payments and effectively deploy our liquidity. This buyback will provide additional flexibility for investors and underscore SIBUR’s long-term reliability as an issuer.”

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