For immediate release
Brunswick Rail Finance Designated Activity Company
BRUNSWICK RAILáFINANCE DESIGNATED ACTIVITY COMPANY
Notice ofáResults ofáMeeting
Brunswick Rail Finance Designated Activity Company (the “Issuer”) formally announces today that itáhas successfully concluded its consent solicitation (the ôConsent Solicitationö) with respect toáits U.S.$600,000,000 6.50 per cent. Guaranteed Notes due 2017 (the ôNotesö, and the holders ofásuch Notes, the ôNoteholdersö) (ofáwhich U.S.$600,000,000áis currently outstanding) (Regulation SáGlobal Note ISIN: XS0850393264; Regulation SáGlobal Note Common Code: 085039326; Rule 144A Global Note ISIN: US117381AA17; Rule 144A Global Note Common Code: 085043188; Rule 144A Global Note CUSIP: 117381AA1).
The Issuer launched the Consent Solicitation oná13áSeptember 2017áto, among other things, seek anáamendment toáClauseá1.1 (Definitions)of the Trust Deed dated 1áNovember 2012 between the Issuer and Citibank, N.A., London Branch asátrustee (the ôTrusteeö), asásupplemented byáaáfirst supplemental trust deed between the Issuer and the Trustee dated 16áMarch 2016, (the ôTrust Deedö), the introduction ofáaánew Conditioná6.6A (Shareholder Purchase Option) and anáamendment toáConditioná6.7 (Cancellation) ofáthe terms and conditions ofáthe Notes set out ináScheduleá3 (Terms and Conditions ofáthe Notes) ofáthe Trust Deed, asádescribed below (the ôAmendment Proposalsö) for approval byáanáextraordinary resolution (the ôExtraordinary Resolutionö) atáaámeeting ofáNoteholders (the ôMeetingö) asáwas set out ináaáconsent solicitation memorandum dated 13áSeptember 2017.
Atáthe duly convened and quorate Meeting oná13áOctober 2017, the Extraordinary Resolution proposed atáthe Meeting, adopting the Amendments, was duly passed. The Extraordinary Resolution approved the following:
(1) Addition ofáPurchase Option
(A) Aánew Conditioná6.6A, following Conditioná6.6 (Purchase) and before Conditioná6.7 (Cancellation) shall beáinserted asáfollows:
ôShareholder Purchase Optionö
6.6A The Notes will beásubject toáthe following provisions:
- The Shareholder may atáany time give notice toáthe Issuer (the ôShareholder Purchase Option Exercise Noticeö) and, upon receipt ofásuch notice the Issuer shall promptly give notice toáand instruct the Principal Paying Agent toágive such notice toáthe Noteholders (ôIssuer Noticeö) ináaccordance with Condition 16áor, for soálong asáthe Notes are ináglobal form, ináaccordance with the provisions ofáthe relevant Global Note (which notice shall beáirrevocable) ofáthe Shareholder’s intention toápurchase all (but not some only) ofáthe Notes outstanding atásuch time, onáaádate falling not later than three Business Days after the date ofásuch notice (such date being the ôShareholder Purchase Option Settlement Dateö). The delivery ofáthe Shareholder Purchase Option Exercise Notice and the Issuer Notice shall under noácircumstances result ináany obligation ofáthe Issuer oráany ofáthe Guarantors toápurchase the Notes under this Shareholder Purchase Option.
- Ifáthe Shareholder Purchase Option Exercise Notice and the Issuer Notice are given, the Shareholder shall, onáthe Shareholder Purchase Option Settlement Date, mandatorily purchase all (but not some only) ofáthe Notes that are then outstanding, atáanáamount equal toáthe Shareholder Purchase Option Price (ináfull satisfaction ofáall outstanding amounts owed toásuch Noteholders under the Notes).
- On the Shareholder Purchase Option Settlement Date, each Noteholder shall beáentitled toápayment byáthe Shareholder ofáanáamount equal toáthe Shareholder Purchase Option Price (ináfull satisfaction ofáall outstanding amounts owed toásuch Noteholder under the Notes) for its Notes asáofáthe Shareholder Purchase Option Settlement Date.
- The Issuer shall procure that the Principal Paying Agent notifies Euroclear, Clearstream, Luxembourg and DTC ofáthe exercise ofáthe Shareholder Purchase Option and that all Notes held through such clearing systems shall beáautomatically transferred toáthe Shareholder onáthe Shareholder Purchase Option Settlement Date against payment ofáthe Shareholder Purchase Option Price byáthe Shareholder.
- Upon the receipt ofáthe apportioned Shareholder Purchase Option Price, each Noteholder will beádeemed toásell, assign and transfer toáand upon the order ofáthe Shareholder, all right, title and interest ináandáto, and any and all claims inárespect ofáoráarising oráhaving arisen asáaáresult ofáthe Noteholderĺs status asáaáholder ofáthe Notes.
- With effect from their receipt ofápayment ofáthe Shareholder Purchase Option Price, the Noteholders (other than the Shareholder and the persons deriving title through the Shareholder following aápurchase ofáthe Notes pursuant toáthis Conditioná6.6A) shall have noáfurther rights oráclaims toápayments inárespect ofáthe Notes, whether under the Trust Deed, asásupplemented, oráotherwise, against the Issuer, the Trustee, the Paying Agents oráany other person, notwithstanding that the Notes may remain outstanding after the Shareholder Purchase Option Settlement Date.
For the purposes ofáthis Conditioná6.6A:
ôShareholderö means Amalgam Rail Investments Ltd.;
ôShareholder Purchase Optionö means the Shareholderĺs option toápurchase all ofáthe Notes asádescribed ináConditioná6.6A;
ôShareholder Purchase Option Priceö means U.S.$887.50 per U.S.$1,000 ináprincipal amount ofáthe Notes, which amount isádeemed toáinclude any accrued and unpaid interest toáthe Shareholder Purchase Option Settlement Date (inclusive); and
ôShareholder Purchase Option Settlement Dateö shall have the meaning given toáitáináCondition 6(A)(a).
(B) Conditioná6.7 (Cancellation) shall beámodified byáthe insertion ofáthe words underlined below:
ôAll Notes redeemed orápurchased pursuant toáthis Conditioná6, except for any Notes purchased ináaccordance with Conditioná6.6A, shall beácancelled forthwith and may not beáheld oráresold. Any Notes soácancelled may not beáreissued.ö
(2) Amendment ofádefinition ofáôoutstandingö
The definition ofáôoutstandingö under Clauseá1.1 (Definitions) ofáthe Trust Deed shall beámodified byáthe insertion ofáthe words underlined below:
ôoutstanding means, inárelation toáthe Notes, all the Notes issued except (a) those which have been redeemed ináaccordance with the Conditions, (b) those inárespect ofáwhich the date for redemption ináaccordance with the Conditions has occurred and for which the redemption moneys (including all interest accrued onásuch Notes toáthe date for such redemption and any interest payable under the Conditions after such date) have been duly paid toáthe Trustee orátoáthe Principal Paying Agent asáprovided ináClause 2áand the Agency Agreement and remain available for payment against presentation and surrender ofáthe Notes ináaccordance with the Conditions, (c)áthose which have become void, (d) those which have been purchased and cancelled asáprovided ináthe Conditions, (e) those mutilated orádefaced Notes which have been surrendered ináexchange for replacement Notes, (f) (for the purpose only ofádetermining how many Notes are outstanding and without prejudice toátheir status for any other purpose) those Definitive Notes alleged toáhave been lost, stolen orádestroyed and inárespect ofáwhich replacements have been issued pursuant toáConditioná11, and (g) any Global Note toáthe extent that itáshall have been exchanged for another Global Note oráDefinitive Notes pursuant toáits provisions, provided that for the purposesáof (1) ascertaining the right toáattend and vote atáany meeting ofáthe Noteholders, (2) the determination ofáhow many Notes are outstanding for the purposes ofáthe Conditions and Scheduleá4, (3) the exercise ofáany discretion, power oráauthority which the Trustee isárequired, expressly oráimpliedly, toáexercise ináorábyáreference toáthe interests ofáthe Noteholders and (4) the certification (where relevant) byáthe Trustee asátoáwhether aáDefault isáináits opinion materially prejudicial toáthe interests ofáthe Noteholders, those Notes which are beneficially held byáoráonábehalf ofáthe Issuer, any Guarantor oráany ofátheir respective Subsidiaries and not cancelled shall (unless noálonger soáheld) beádeemed not toáremain outstanding; for the avoidance ofádoubt, Notes held byáAmalgam Rail Investments Ltd. are not toábeáregarded asábeneficially held byáoráonábehalf ofáthe Issuer, any Guarantor oráany ofátheir respective Subsidiaries and shall beádeemed toáremain outstanding atáall times;ö
The Issuer, the Shareholder and the Trustee will shortly enter into aásupplemental trust deed toágive effect toáthe Amendment Proposals.
The Amendment Proposals will enable Amalgam Rail Investments Ltd.átoáexercise the Shareholder Purchase Option asásoon asáreasonably practicable following the Meeting, but not later than 19áOctober 2017, and purchase all outstanding Notes for cash atáU.S.$887.50 per U.S.$1,000 ináprincipal amount ofáthe Notes, which amount isádeemed toáinclude any accrued and unpaid interest, ináfull satisfaction ofáall outstanding amounts owed toáthe Noteholders under the Notes.
With respect toáthe Consent Solicitation, Lucid Issuer Services Limited has acted asáthe Information and Tabulation Agent.
Natalia Koroleva, PBN Hill+Knowlton Strategies
Mobile (Russia): +7 (903) 795 6926
This document does not constitute oráform partáof, and should not beáconstruedáas, anáoffer for sale orásubscriptionáof, oráaásolicitation ofáany offer toábuy oráexchange orásubscribe for, any securities ofáthe Issuer oráany other entity. This document does not constitute aásolicitation ináany circumstances ináwhich such solicitation isáunlawful.
BRUNSWICK RAILáFINANCE DESIGNATED ACTIVITY COMPANY isáaádesignated activity company formed under the laws ofáIreland with registered number 518323 whose registered office isáatá2nd Floor, Palmerston House, Fenian Street, Dubliná2, Ireland.
This release may contain ôforwardlooking statementsö concerning the Issuer. Generally, the words ôwillö, ômayö, ôshouldö, ôcouldö, ôwouldö, ôcanö, ôcontinueö, ôopportunityö, ôbelievesö, ôexpectsö, ôintendsö, ôanticipatesö, ôestimatesö orásimilar expressions identify forwardlooking statements. The forwardlooking statements involve risks and uncertainties that could cause actual results toádiffer materially from those expressed ináthe forwardlooking statements. Forwardlooking statements include statements relating toáfuture capital expenditures and business and management strategies and the expansion and growth ofáthe Issuerĺs operations. Many ofáthese risks and uncertainties relate toáfactors that are beyond the Issuerĺs ability toácontrol oráestimate precisely and therefore undue reliance should not beáplaced onásuch statements which speak only asáatáthe date ofáthis release. The Issuer assumes noáobligation inárespectáof, and does not intend toáupdate, these forwardlooking statements, except asárequired pursuant toáapplicable law.
These materials are not anáoffer ofásecurities for sale ináthe United States. Securities may not beáoffered orásold ináthe United States absent registration oráanáexemption from registration under the Securities Act ofá1933, asáamended (the ôSecurities Actö). Any securities mentioned herein have not been and will not beáregistered under the Securities Act, and noápublic offering will beámade ináthe United States.