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Bond Issues: Eurobonds Evraz Group, 2014, CNV |
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Issue information:
| • Issuer, issue number: |
Evraz Group, 2014, CNV |
| • SPV: |
Evraz Group S.A. |
| • Income calculation: |
|
| • Type of debt instrument:
| Eurobonds |
| • Type of bonds: |
Coupon bonds |
| • Issue status: |
early redeemed |
| • Early redemption date: |
Aug 04 2011 |
| • Par, minimum denomination: |
100000
USD, 100 000.0 |
| • Par, integral multiple: |
USD, 100 000.0
|
| • Amount: |
650 000 000 |
| • Convertible: |
Yes |
| • Convertability conditions: |
The Bonds will be convertible into GDRs at an initial conversion price of US$21.12 per GDR. The conversion price represents a 28% premium to the Equity Offering placement price of US$16.50 per GDR, which is the reference price for the convertible bond.
In the Equity Offering, the Company has agreed to issue 6,060,608 shares, including GDRs, equal to approximately 4.4% of the Company's outstanding share capital, post issue. The issue price of the GDRs is US$16.50 per GDR, with each GDR representing one-third of one share. The total number of outstanding shares in the Company will increase to 138,320,758. Gross proceeds of the Equity Offering amount to approximately US$300 million with Lanebrook and its affiliate subscribing for US$200 million.
From June 22 until July 26, US$649,900,000 in aggregate principle amount of bonds were converted into the Company’s
GDRs. A total of 30,771,756 GDRs, representing 10,257,252 newly issued ordinary
shares of the Company, have been issued. Further to the announcement on 24 June 2011, all the remaining outstanding convertible bonds due 2014
being US$100,000 in aggregate principal amount were redeemed on 4 August 2011. |
| • ISIN RegS: |
XS0439721035 |
| • CFI RegS: |
DBVXFR |
| • End of placement: |
Jul 09 2009 |
| • Coupon: |
7.250% |
| • Coupon frequency: |
4 time(s) per year |
| • Settlement Date: |
Jul 13 2009 |
| • Maturity date: |
Jul 13 2014 |
| • Issue price: |
100 |
| • Issue Managers: |
Goldman Sachs International and Morgan Stanley & Co. International plc are acting as Joint Global Coordinators and, together with Deutsche Bank AG, Joint Bookrunners for the Equity and Bond Offerings.
CALYON, ING Bank N.V. London branch, NATIXIS, RBS Hoare Govett Limited and Société Générale Corporate & Investment Banking are acting as Co-Lead Managers in relation with the Offerings.
Lazard & Co. Limited is acting as Financial Advisor to the Company in relation with the Offerings.
Stabilising Manager: Morgan Stanley & Co. International plc
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| • Listing: |
London Stock Exchange |
| • Issue ratings: (rating history) |
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| • Additional information: |
Security Identifier: BB number EH8973255
Over-allotment facility: $50,000,000 Face Value
Associated securities being stabilised: GDRs (ISIN - US30050A2024)
Lanebrook, a 77.6% shareholder in Evraz prior to the Offerings, and its affiliate, are subscribing for US$200 million in principal amount of Bonds. The Company has granted the Joint Bookrunners in the Bond Offering an over-allotment option to subscribe for up to an additional US$50 million in principal amount of Bonds, which if exercised in full would result in an increase in the aggregate principal amount of the Bonds to US$650 million. This option may be exercised at any time within 14 days after the Pricing Date. |
| • Files: |
Press Release
Press Release - redemption
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| • Investment banks:
| Bookrunner(s):
Deutsche Bank
Goldman Sachs
Morgan Stanley
Co-lead manager(s):
Calyon
ING Wholesale Banking London
Natixis
RBS
Societe Generale
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Borrower:
| • Issuer: | Evraz Group |
| • List of affiliated companies: |
EvrazHolding,Sibmetinvest,Evraz Group S.A.,EvrazHolding Finance |
| • Full issuer name: | Evraz Group |
| • Country: | Russia |
| • Region: | CIS |
| • Web site: | http://www.evraz.com/ru |
| • Other issues of the issuer (including related companies issues): |
 Evraz Group, 2006 - Eurobonds
Evraz Group, 2009 - Eurobonds
Evraz Group, 2015 - Eurobonds
Evraz Group, 2018-2 - Eurobonds
Evraz Group, 2018 (LPN) - Eurobonds
All issues of the issuer
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| • Issuer profile: | EVRAZ Group S.A. is a large vertically-integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, Europe, USA, Canada and South Africa. EVRAZ Group’s principal ... |
| • Industry: | Ferrous metals |
|
Complete profile |
SPV:
Consolidated IFRS reports:| 2012 | 1 Q.
| | 2011 | 1 Q.
| 2 Q.
| 3 Q.
| 4 Q.
| | 2010 | 1 Q.
| 2 Q.
| 3 Q.
| 4 Q.
| | 2009 | 1 Q.
| 2 Q.
| 3 Q.
| 4 Q.
| | 2008 | 1 Q.
| 2 Q.
| 3 Q.
| 4 Q.
| | 2007 | 1 Q.
| 2 Q.
| 3 Q.
| 4 Q.
| | 2006 | 1 Q.
| 2 Q.
| 3 Q.
| 4 Q.
| | 2005 | 1 Q.
| 2 Q.
| 3 Q.
| 4 Q.
| | 2004 | 1 Q.
| 2 Q.
| 3 Q.
| 4 Q.
|
Annual report:
|
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Early redemption terms:
| Date |
Period of submitting bonds for buyback |
Type |
Price |
Status |
Repurchased amount at par, mln |
Terms & conditions |
| 05.07.2011 |
26.07.2011 - 04.08.2011 |
call |
100 |
Settled |
0.1 |
Any Bonds for which Conversion Rights have not been validly exercised in accordance with the Conditions by 26 July 2011 will be redeemed on the Optional Redemption Date ( 4 August 2011) and Conversion Rights may no longer be exercised in respect of those Bonds. |
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Payment schedule:
| # |
Date |
Coupon, % p.a. |
Coupon size, USD |
Par redemption, USD |
| 1 |
13.10.2009 |
7.25 |
1 812.50 |
|
| 2 |
13.01.2010 |
7.25 |
1 812.50 |
|
| 3 |
13.04.2010 |
7.25 |
1 812.50 |
|
| 4 |
13.07.2010 |
7.25 |
1 812.50 |
|
| 5 |
13.10.2010 |
7.25 |
1 812.50 |
|
| 6 |
13.01.2011 |
7.25 |
1 812.50 |
|
| 7 |
13.04.2011 |
7.25 |
1 812.50 |
|
| 8 |
13.07.2011 |
7.25 |
1 812.50 |
|
| 9 |
13.10.2011 |
7.25 |
1 812.50 |
|
| 10 |
13.01.2012 |
7.25 |
1 812.50 |
|
| 11 |
13.04.2012 |
7.25 |
1 812.50 |
|
| 12 |
13.07.2012 |
7.25 |
1 812.50 |
|
| 13 |
13.10.2012 |
7.25 |
1 812.50 |
|
| 14 |
13.01.2013 |
7.25 |
1 812.50 |
|
| 15 |
13.04.2013 |
7.25 |
1 812.50 |
|
| 16 |
13.07.2013 |
7.25 |
1 812.50 |
|
| 17 |
13.10.2013 |
7.25 |
1 812.50 |
|
| 18 |
13.01.2014 |
7.25 |
1 812.50 |
|
| 19 |
13.04.2014 |
7.25 |
1 812.50 |
|
| 20 |
13.07.2014 |
7.25 |
1 812.50 |
100 000.0 |
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