Baker McKenzie has advised PJSC Koks on the issuance of new Eurobonds by subsidiary IMH Capital and a cash tender offer together with an exit consent solicitation to the holders of USD 500 million notes due 2022 issued by Koks Finance, another subsidiary of PJSC Koks.
The joint lead managers involved in the transaction were Citi, Renaissance Capital, Alfa Bank, Gazprombank, Sber CIB, VTB Capital, and Sova Capital.
According to Baker McKenzie, “[IMH Capital’s] offering consists of USD 350 million in notes, with annual interest rate of 5.90% notes, which are due 2025 and are registered in the Rule 144A / Reg S format. The new notes were listed on the Global Exchange Market of the Irish Stock Exchange.”
PJSC Koks is a Russia-based company that was founded in 1924 and which is primarily involved in the production and distribution of coke and coal concentrate, iron ore concentrate, and pig iron.
Baker McKenzie’s team included, in Moscow, Partner Dmitry Dembich and Associates Adil Guseynov and Polina Govkelevich, and in London, Partners Roy Pearce and Megan Schellinger, Counsel Charles Farnsworth, Senior Associate Maxim Khrapov, and Associate Andrew Brown.
Baker McKenzie did not reply to an inquiry about the deal.