Oschadbank announces occurrence of the Effective Date in respect of the 2016 and 2018 Notes

NOT FOR GENERAL RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA

2 September 2015

 

Oschadbank announces occurrence of the Effective Date in respect of the 2016 and 2018 Notes


Public Joint Stock Company “State Savings Bank of Ukraine” (the “Bank”) is pleased to announce that the Effective Date in respect of the 2016 Notes and 2018 Notes occurred yesterday.

 

Accordingly, the Amendments relating to the 2016 Loan Agreement and the 2018 Loan Agreement have become effective, the 2016 Notes and the 2018 Notes have been cancelled and the initial distribution of the New 2023 Notes and the New 2025 Notes took place yesterday.

 

The Bank is also pleased to confirm that on 21 August 2015 the Cabinet of Ministers of Ukraine issued the letter of support described in the consent solicitation memorandum referred to below (the “CoM Letter of Support”).

 

Copies of the CoM Letter of Support, together with copies of the New 2023 Trust Deed, the New 2025 Trust Deed, the New 2023 Agency Agreement, the New 2025 Agency Agreement and certain other documents, will be available for inspection during normal business hours on any weekday (Saturdays, Sundays and public holidays excepted) at the registered offices of the Trustee and at the Specified Offices of each of the agents appointed in relation to the New 2023 Notes and the New 2025 Notes.

 

The New 2023 Notes and New 2025 Notes in respect of which the Noteholders entitled thereto have not submitted Settlement Instructions have been deposited in a custody account of the Issuer held with The Bank of New York Mellon, London Branch. The Bank expects to issue a notice of Settlement Instructions in due course. The notice will describe the procedure for submission of Settlement Instructions by Noteholders who have not already done so.

 

The New 2023 Notes and New 2025 Notes to which certain Noteholders would have been entitled had they been Eligible Investors and certain New 2023 Notes and New 2025 Notes that, if distributed, would cause the relevant Noteholder to hold less than the minimum denomination were also deposited in the Issuer’s custody account. The Bank expects that the Net Proceeds of Sale will be distributed to such Noteholders in due course upon completion of the sale.

 

Terms defined in the Bank’s consent solicitation memorandum dated 6 July 2015 are used in this press release as so defined.

THE INFORMATION CONTAINED HEREIN IS NOT FOR GENERAL PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA. THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES NOR MAY THE SECURITIES TO BE ISSUED IN THE RESTRUCTURING BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION AS PROVIDED IN THE U.S. SECURITIES ACT OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS THEREUNDER. THERE IS NO INTENTION TO REGISTER IN THE UNITED STATES OF AMERICA ANY PORTION OF ANY SUCH SECURITIES OR TO CONDUCT A PUBLIC OFFERING OF SECURITIES IN THE UNITED STATES OF AMERICA.

THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF ANY SECURITIES REFERRED TO HEREIN IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION, EXEMPTION FROM REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.

02.09.2015