Company name BKM Finance DAC
Headline Postponement of Mandatory Measure Effective Date


RNS Number : 9047V
BKM Finance DAC
08 November 2017
 

Company name             BKM Finance D.A.C.

Headline                       Postponement of Mandatory Measure Effective Date

 

COMPANY ANNOUNCEMENT

 

8 November  2017

BKM Finance D.A.C.

 

For immediate release

U.S.$200,000,000 9.15 per cent. Loan Participation Notes due 2023 (the "Notes") (ISIN: XS0944741833) issued by, but with limited recourse to, BKM Finance D.A.C. (the "Issuer") for the sole purpose of financing a subordinated loan to Public-Joint Stock Company "Bank Otkritie Financial Corporation" (formerly Public Joint-Stock Company "Khanty-Mansiysk Bank Otkritie") (the "Borrower").

The Issuer refers to the announcement dated 10 October 2017 relating to the Write Down Event Notice and to the announcement dated 27 October 2017 relating to the Mandatory Measure Notice received from the Borrower for the purposes of the Subordinated Loan Agreement dated 14 June 2013 and as amended and restated with the Amended and Restated Subordinated Loan Agreement dated 27 August 2015 and as further amended by the Deed of Amendment to the Amended and Restated Subordinated Loan Agreement dated 28 January 2016 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 stating:

 

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

2.   since the Write Down (Exchange) 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 Mandatory Measures 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 BKM Finance D.A.C.

 

Given by the Issuer.

 

Enquiries:

 

The Directors

BKM Finance D.A.C.

Pinnacle 2
Eastpoint Business Park
Dublin 3
Ireland

E-mail: corporate.services@db.com

 

 

 

 

This announcement has been issued through the Companies Announcement Service of

the Irish Stock Exchange.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
ISEFSMFSAFWSESF