Commentary & Deal Flow

PAO “Sovcomflot”, a global leader in seaborne energy transportation solutions operating one of the largest tanker fleets in the world, majority owned and controlled by the Russian Federation, rated BBB- (stable) by Fitch, BBB-(stable) by S&P and Ba1 (stable) by Moody’s, has mandated Citi and VTB Capital as Joint Global Coordinators and Joint Bookrunners; Alfa-Bank, ING, J.P.Morgan and SberCIB as Joint Bookrunners, and Societe Generale and UniCredit as Co-managers; to arrange a Global Investor Call at 2pm UKT / 3pm CET on 14 April 2021 as well as a series of individual fixed income investor calls also commencing on 14 April 2021. Roadshow Wed 14th - Fri 16th. A RegS/144A USD-denominated senior unsecured guaranteed Eurobond offering with a 7 year tenor will follow subject to market conditions. FCA/ICMA stabilization applies. PAO “Sovcomflot” (acting via SCF Capital DAC) has also announced a capped Tender Offer for its outstanding US$ notes due 2023, with the expiration deadline set on 19 April 2021.