Evraz Group Amends Covenant Terms on Bonds
Moscow, June 17, 2005 - Evraz Group S.A., one of the largest vertically-integrated steel and mining businesses with operations mainly in Russia, today announces that on 31 May 2005 at a meeting of Noteholders (the "Noteholders") of U.S.$175,000,000 8.875 per cent. Guaranteed Notes (the "Notes") due 2006 issued by EvrazSecurities S.A. terms were agreed over the unification of covenant terms for its bonds.
Noteholders voted in favour of the Extraordinary Resolution approving certain amendments to the financial and other covenants and events of default of the Notes so that they are identical with the financial and other covenants and events of default on the U.S.$300,000,000 10.875 per cent. Guaranteed Notes due 2009 issued by EvrazSecurities S.A.
Accordingly, the modifications referred to in the Extraordinary Resolution have been implemented from 1 June 2005.
For further information:
Evraz Group S.A.
Corporate Affairs and Investor Relations
Tel: +7 495 232 1370