/KASE, October 28, 2022/ – NC Kazakhstan temir zholy, whose bonds are officially
listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following
press release dated October 28, 2022:
quote
NATIONAL COMPANY "KAZAKHSTAN TEMIR ZHOLY" JOINT STOCK COMPANY (the "Issuer")
ANNOUNCES THE RESULTS OF THE TENDER OFFER AND THE RESULTS OF THE MEETING To
holders of outstanding bonds ("Bondholders") in the amount of USD1,100,000,000
with a coupon rate of 6.95% per annum maturing in 2042 (ISIN (Regulation S):
XS0799658637; ISIN (Rule 144A): US48667DAD66; CUSIP (Rule 144A): 48667 DAD6)
("Bonds")
On September 27, 2022, the Issuer announced an invitation to the Bondholders
to offer their Bonds for redemption by the Issuer with payment of interest for
the Bonds being redeemed in cash (the "Tender Offer"), and at the same time
agree, by means of an Extraordinary Resolution, to amend the terms of the Bonds
which will provide for the mandatory early redemption of the Bonds by the
Issuer (the "Amendment Offer" and together with the Tender Offer, the "Offer").
The Offer was made on the terms and conditions set forth in the Buyback and
Assent Memorandum dated September 27, 2022 (the "Buyout and Assent
Memorandum").
Capitalized terms used in this communication shall have the meanings set forth
in the Buyback and Assent Memorandum.
Results of the redemption of the Bonds
As at the end of the Offer Period (10:00, London time, 26 October 2022),
US$797,049,000 of the principal amount of outstanding Bonds have been duly
offered for redemption, representing approximately 90.3% of all outstanding
Bonds. In addition, the Issuer also received: (i) Instructions to vote in favor
of the Amendment Offer (without an offer of Bonds for buyback) in respect of
US$8,350,000 of the principal amount of the outstanding Bonds, representing
approximately 0.9% of all outstanding Bonds, and (ii) Instructions to vote
against the Amendment Offer (without an offer of Bonds for buyback) in respect
of US$14,500,000 of the principal amount of the outstanding Bonds, representing
approximately 1.6% of all outstanding Bonds.
The Issuer intends to buyback all Bonds that have been duly tendered for a
Buyback Fee of US$1,000.00 for each US$1,000 of principal amount of the
Bonds. The settlement date for the Buyback Offer is October 31, 2022. All Bonds
redeemed by the Issuer under the Buyback Offer will be submitted to the
Registrar for cancellation. The redemption of the Bonds pursuant to the Buyback
Offer is subject, in particular, to the fulfillment of certain conditions,
including the condition of obtaining New Financing, as set out in the Buyout
and Assent Memorandum. The Issuer has confirmed that the condition to receive
the New Financing has been met.
unquote
The full press release is available on –
https://kase.kz/files/emitters/TMJL/tmjl_relizs_281022.pdf
[2022-10-28]