Polyus transfers coupon payment on 2028 Eurobonds to trustee, awaiting approval of payment

MOSCOW. Dec 1 (Interfax) - Polyus Finance Plc, the issuer of Polyus Eurobonds , has transferred part of the coupon payment on dollar-denominated Eurobonds maturing in 2028 to a trustee to pay interest to holders whose rights are recorded by foreign depositories, the gold miner said in a statement.

The issuer transferred money to the account of i2 Capital Trust Corporation Ltd, which acts as a trustee for the eurobonds, according to the terms of the issue on November 28, Polyus said in its statement. The trustee has requested written confirmation from the relevant clearing systems that the money can be transferred to them.

"The issuer currently expects that the funds will be transferred by the trustee to the clearing systems for subsequent payment to the foreign holders after receiving written confirmation from the relevant clearing systems," the company said.

The company also recalled that in October, Polyus Krasnoyarsk (the guarantor of the Eurobonds) transferred rubles to the National Settlement Depository for coupon payments to holders of 2028 Eurobonds, the rights to which are accounted in Russian depositories.

In September, Polyus reported that the holders of Eurobonds maturing in 2024, whose rights are accounted for by foreign depositories, did not receive coupon payments - the payment agent did not provide confirmation that the funds had reached the investors. As a result, the company decided to duplicate coupon payments for foreign holders, having made transfer of funds to the trustee.

Part of the coupon payment intended for foreign holders on another issue of Polus Eurobonds, maturing in 2023, was also transferred to the trustee's account.