Petropavlovsk branch will buy back its loans in the amount of up to $ 200 million


Joe Hoppe

Petropavlovsk PLC said on Tuesday that it will buy back its 8.125% guaranteed bonds maturing in 2022 for up to $ 200 million.

The Russian gold mining company said the offer from its wholly-owned subsidiary Petropavlovsk 2016 Ltd. expires on August 9 and is designed to manage her upcoming debt repayment and reduce the value of her debt portfolio.

The offer includes an early tender payment of US $ 30 for each US $ 1000 notes accepted. Along with the consideration of the tender, all holders of notes accepted for purchase will also receive accrued and unpaid interest on promissory notes, rounded to the nearest cent for every $ 1000.

Payment for the notes will be made on July 29th.

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