Company name OFCB Capital Plc
Headline Postponement of Write Down Measure Effective Date

RNS Number : 8448V
OFCB Capital Plc
07 November 2017

Company name             OFCB Capital plc

Headline                       Postponement of Write Down Measure Effective Date




7 November 2017

OFCB Capital plc


For immediate release

U.S.$300,000,000 10 per cent. Loan Participation Notes due 2019 (XS0940730228/  US65537XAD49) issued by, but with limited recourse to, OFCB CAPITAL P.L.C. (the "Issuer") for the sole purpose of financing a subordinated loan to Public-Joint Stock Company "Bank Otkritie Financial Corporation" (formerly Open Joint-Stock Company "NOMOS-BANK") (the "Borrower").

The Issuer refers to the announcement dated 5 October 2017 relating to the Write Down Event Notice  and the announcement dated 31 October 2017 relating to the the Write Down Measure Notice received from the Borrower pursuant to the terms of the Subordinated Loan Agreement dated 14 December 2012 as amended by the Amendment Agreement dated 19 August 2014 between the Issuer and the Borrower (the "Subordinated Loan Agreement"). Terms not otherwise defined herein shall have the meanings given to them in the Subordinated Loan Agreement.

The Issuer has received a notice from the Borrower dated 7 November 2017 (the "Notice") stating:


1.   that the application of the Write Down Measures will not occur on 08 November 2017 (the date  initially determined as Write Down Measure Effective Date) and will be postponed;

2.   since the Write Down Event is continuing, the application of the Write Down Measures will be effected in accordance with the procedure provided for by the applicable Russian legislation and the regulations of the Bank of Russia in effect;

3.   the Borrower will further advise the Issuer of a new Write Down Measure Effective Date in advance but within a period comfortable to implement all necessary procedures related to the application of the Write Down Measures under the Subordinated Loan Agreement and the Notes.

The Issuer understands that the Write Down Measures will take place in accordance with Russian legislation and the Issuer does not expect any further payments to be made under the Notes.

The Issuer makes no comments on the validity of the Notice under the Subordinated Loan Agreement.

This announcement is released by the Issuer and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), encompassing information relating to the Notes described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by the Directors of OFCB Capital P.L.C.

Given by the Issuer.




The Directors

OFCB Capital P.L.C.

2 Grand Canal Square

Grand Canal Harbour

Dublin 2








This announcement has been issued through the Companies Announcement Service of

the Irish Stock Exchange.


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