Корпоративное действие действие FINANCE AND CRED UK 10.5000 25/01/14 — loan versus bond

Event details
Clarification of information dated 16/04/09: loan versus bond.

The trustee has requested Euroclear to repeat that this event of default relates to the underlying loan and is not an event of default in relation to the notes.

Information source : Trustee, Deutsche Bank, London.

The Trustee has received a copy of a notice in which VTB CAPITAL PLC as lender notified the issuer that an event of default has occurred pursuant to clause 15.4 (cross default) of the loan agreement dated 16 november 2006 between the lender and bank ’Finance and Credit’ LTD. As borrower and that a potential event of default has also occurred pursuant to clause 15.11 (governmental intervention) of the loan agreement.

Clause 15.13 of the loan agreement provides that if an event of default has occurred and is continuing the lender (if it receives instructions from the trustee in accordance with the trust deed) may by written notice to the borrower declare the outstanding principal amount of the loan to be immediately due and payable.

The Trustee is entitled to exercise the rights of the issuer pursuant to clause 4.2.1 of the trust deed at any time after the occurrence of an event of default under the loan agreement. the trustee is not obliged to, nor does it presently intend to, declare the loan immediately due and payable unless and until it is indemnified and/or secured to its satisfaction in accordance with clause 7.1 of the Trust deed and unless and until it is requested to do so in writing by at least one quarter in principal amount of the outstanding notes.

Noteholders may request a form of indemnity from the Trustee.
For further details, refer to the documentation.
The document will be available.