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Severstal extends deadline for consents from Eurobond holders until November 17 — company

It is reported that the Russian steelmaker informed in July about the initiated procedure of accepting consents from bondholders to receiving interest and coupon payment in rubles

MOSCOW, August 24. /TASS/. Severstal extends the deadline for accepting consents of Eurobond holders to the change of securities issue conditions until November 17, the Russian steelmaker said on Wednesday.

"Severstal is willing to continue accepting the Direct Payment Applications from the Eligible Noteholders, subject to the conditions specified herein, until 17 November 2022," the company said.

It was earlier anticipated that the process would end on August 18.

Eurobonds amounting to $750 mln, having the coupon rate of 5.9% per annum and mature in 2022 are the case in point.

Severstal informed in July about the initiated procedure of accepting consents from bondholders to receiving interest and coupon payment in rubles and to early debt repayment.