Commentary & Deal Flow

Joint Stock Company "Holding Company "METALLOINVEST" ("Metalloinvest"), one of the largest iron ore, pellet and hot briquetted iron producers and suppliers globally, with senior unsecured debt ratings of BBB- (stable) by S&P, BBB- (stable) by Fitch and Baa3 (stable) by Moody's, has mandated J.P. Morgan, SberCIB and Societe Generale as Global Coordinators and Bookrunners, and Deutsche Bank, Gazprombank, IMI-Intesa Sanpaolo, UBS Investment Bank, UniCredit and VTB Capital as Joint Lead Managers and Bookrunners to arrange a Global Investor Call on 5 October 2021 at 2pm UKT / 4pm MSK / 9am NYT and a series of fixed income investor calls, commencing on 5 October 2021. A Reg S/144A guaranteed senior unsecured benchmark US Dollar offering with a 7-year maturity will follow, subject to market conditions. FCA/ICMA stabilisation applies.

In conjunction with the potential new issue, Metalloinvest Finance Designated Activity Company (a wholly-owned indirect subsidiary of Metalloinvest) has announced an invitation to holders of its outstanding 4.85% notes due 2024 to tender any and all of such notes for cash and concurrently to consent to provide for mandatory early redemption of such notes. The early participation deadline is set for 12 October 2021 and the expiration deadline is set for 27 October 2021.