LCPIS approved as trustee for 5.375% Eurobonds due 2023 issued by EVRAZ plc
On December 7, 2022, EVRAZ plc (the “Issuer”) successfully held a meeting (via videoconference) of the noteholders of its USD 750,000,000 5.375% Eurobonds due 2023 (the “Eurobonds”). At the meeting, the Eurobond holders, acting via their proxy, voted in favour of all of the proposed resolutions. The Eurobond holders, inter alia, approved (i) a number of amendments to current Eurobonds terms and conditions, and (ii) the appointment of Limited liability company “Legal Capital Investor Services” (“LCPIS”) as Trustee to replace and succeed BNY Mellon Corporate Trustee Services Limited, the previously designated trustee.
Additionally, in the framework of this deal LCPIS acted as:
a) information and tabulation agent collecting consent instructions from the Eurobond holders;
b) proxy to attend and vote at the meeting on behalf of the Eurobond holders.
LCPIS is an independent bondholder representative (Russian analogue of trustee) representing bondholders in 200+ bond issues for a total amount of more than RUB 2 trillion. For five consecutive years (2017–2021), LCPIS took the first place in the bondholder representative annual ranking conducted by Cbonds, the leading Russian financial information agency. In 2021, LCPIS won in the newly introduced Best Bondholder Representative nomination by Cbonds Awards, and in 2022, Cbonds was recognised as Best Bondholder Representative / Trustee by Cbonds Awards.
In the Eurobond market, LCPIS acts as trustee, proxy, information and tabulation agent.