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Chelpipe announces measures to protect the Company’s bondholder interests

The first notice on the reorganization of PJSC Chelpipe (the “Issuer”) was published in the State Registration Bulletin on February 16, 2022. For more details, see https://www.vestnik-gosreg.ru/search/.

In line with best practices in corporate governance, Chelpipe has announced a package of measures to protect the interests of its bondholders:

On February 15, 2022, PAO TMK (Expert RA’s credit rating: ruA+), PJSC Chelpipe’s parent company, provided independent guarantees as security for Series 001P-03, 001Р-04 and 001Р-06 exchange-traded bonds of PJSC Chelpipe. For more details on the above independent guarantees, see https://chtpz.tmk-group.ru/chtpz_bonds_rub and https://www.tmk-group.ru/guarantees.

PJSC Chelpipe also plans to offer investors the right to put their Series 001Р-03, 001Р-04 and 001Р-06 exchange-traded bonds back to the issuer at 100% of par value plus accrued coupon at the redemption date. The bonds will be redeemed before the end of February 2022 once relevant corporate resolutions are passed by the Issuer.

The Issuer will also propose convening a general meeting of bondholders to table amendments to the bond resolution regarding the maturity of PJSC Chelpipe’s Series 001P-05 exchange-traded bonds and fully redeem the bonds before the Issuer reorganization is finalized. The bonds will be redeemed at par value plus accrued coupon at the date of redemption.

As part of the reorganization, PJSC Chelpipe engaged Bank GPB (JSC) and Sinara Investment Bank as agents for communicating with PJSC Chelpipe’s bondholders, LECAP as a legal advisor, and LCPIS as an agent for communicating with retail bondholders.

Should PJSC Chelpipe’s bondholders have any questions, institutional investors should refer to Bank GPB (JSC) and Sinara Investment Bank at syndicate@gazprombank.ru and dcm@sinara-finance.ru, and retail investors should refer to LCPIS at info@Jcpis.ru.