EN
This procedure has been defined for the purposes of implementing the Decree of the President of the Russian Federation dated 09 September 2023 No. 665 "On the Temporary Procedure for Fulfilling State Obligations of the Russian Federation Expressed in State Securities with a Nominal Value Denominated in Foreign Currency, and Other Obligations under Foreign Securities, Owed to Residents and Foreign Creditors" (hereinafter — Decree No. 665).
NSD sends a request to disclose the List to foreign depositories acting as ICSDs (Euroclear Bank S.A./N.V. / Clearstream Banking S.A. / Depository Trust Company) and to foreign nominee holders that have an account with NSD, in respect of the securities in the attached list of securities.
Such a request is sent on the day following the record date specified in the issue documentation.
The request to collect the list is sent to foreign depositories by letter to the email addresses known to NSD, as well as by regular mail.
In response to the request, the foreign depository may provide NSD with the list. The list must be submitted by an authorized officer of the ICSDs as an Excel file completed using the established template as of the record date for payments on Russian Federation Eurobonds.
The completed Excel file must be named: "BO DCSL MF __ <short name of the foreign securities depository>".
The list must be provided using the SWIFT FileAct service for BIC MICURUMM. The message identifiers must be as follows:
Message identifier: seev.xxx.nsd.xls.rf005
Request type: seev.xxx.nsd.xls.rf005
Notification of the dispatch of the List must be sent to NSD by email to CorporateActions@nsd.ru.
By sending the list to NSD, the ICSD warrants that, if "YES" is entered in the field for written waivers of all potential future claims, written waivers in the form established by NSD from any person on the list will be provided to NSD upon NSD's request. The Holder may also send a written waiver directly to NSD.
In addition, the Eurobond Holder must send the documents required for calculating taxes and withholding them at source when making payments directly to NSD, in accordance with the procedure set out in the Securities Holders section.
Please note the following specifics:
Disclosures received will be processed on an ongoing basis; no deadline for submitting a disclosure is currently set. If the disclosure form is completed incorrectly, NSD will send its comments. The ICSD may resubmit the disclosure.
If the disclosure is submitted in respect of a payment made before 15 September 2023 by 07 November 2023, and the payment under it is approved before 21 November 2023, funds in the type "I" account will be indexed at the official foreign exchange rate set by the Central Bank of the Russian Federation on the Payment Date, with an allowable deviation of 15 kopecks. Such a payment is made in rubles.
If the disclosure is submitted in respect of a payment made before 15 September 2023 after 07 November 2023, and the payment under it is approved, the payment will be made after 15 December 2023 at the expense of funds in the foreign currency in which the obligations under Russian Federation Eurobonds are denominated and held in NSD's accounts with a foreign depository.
If the disclosure is submitted in respect of a payment made on or after 16 September 2023 within 60 days after the scheduled interest payment date specified in the issue prospectus, and the payment is approved by the 90th day after the scheduled interest payment date specified in the issue prospectus, the funds will be transferred on the 91st day in rubles at the exchange rate of the foreign currency in which the obligations under Russian Federation Eurobonds are denominated as of the date of such payment.
If the disclosure is submitted in respect of a payment made on or after 16 September 2023 more than 60 days after the scheduled interest payment date specified in the issue prospectus, and the payment is approved, the funds will be transferred at the expense of funds in the foreign currency in which the obligations under Russian Federation Eurobonds are denominated and held in NSD's accounts with a foreign depository;
The Ministry of Finance of the Russian Federation fulfills its obligations on Russian Eurobonds through NSD in accordance with the procedure described in the General Information section.
The request to collect the list is sent to foreign nominee holders as a standard request in GS61N form.
The list is provided by submitting a disposition in RF005 form (sending an electronic message in FCDR_2017_02 format, REGISTER_OF_SHAREHOLDERS_V02 "List/information about persons"). In the "additional information about the person exercising rights under the securities" tag of the REGISTER_OF_SHAREHOLDERS_V02 message, each person entitled to receive the payment must be shown with information on whether a written waiver of all potential future claims by the Eurobond Holder is available. Detailed guidance on completing this field is provided in NSD's request.
By sending the list to NSD, the foreign nominee holder warrants that, if "YES" is entered in the field for written waivers of all potential future claims, written waivers in the form established by NSD from any person on the list will be provided to NSD upon NSD's request. The holder may also send a written waiver directly to NSD.
If the disclosure form is completed incorrectly, NSD will send its comments. The foreign nominee holder may resubmit the disclosure.
Please note the following specifics:
A list of type "0012 – Basic with bank details of persons exercising rights under securities" is accepted by NSD for a payment made before 15 September 2023, submitted by 07 November 2023. In this case, if the payment under such list is approved before 21 November 2023, funds in the type "I" account will be indexed at the official foreign exchange rate set by the Central Bank of the Russian Federation on the Payment Date, with an allowable deviation of 15 kopecks. Such a payment is made in rubles.
After 07 November 2023 NSD will send a new request for a payment made before 15 September 2023 to collect the List already of type "0010 – Basic with foreign currency details". In this case, payment to approved Holders will be made after 15 December 2023 at the expense of funds in the foreign currency in which the obligations under Russian Federation Eurobonds are denominated and held in NSD's accounts with a foreign depository.
For payments made on or after 16 September 2023, within 60 days after the scheduled interest payment date specified in the issue prospectus, NSD accepts a List of type "0012 – Basic with bank details of persons exercising rights under securities". If the payment under such disclosure is approved by the 90th day after the scheduled interest payment date specified in the issue prospectus, such payment will be made on the 91st day in rubles at the exchange rate of the foreign currency in which the obligations under Russian Federation Eurobonds are denominated as of the date of such payment.
After 60 days have elapsed from the scheduled interest payment date specified in the issue prospectus, NSD will send a new request for a payment made on or after 16 September 2023 to collect the List already of type "0010 – Basic with foreign currency details". If the List for such payment is provided after 60 days have elapsed from the scheduled interest payment date and the payment is approved, the payment will be made at the expense of funds in the foreign currency in which the obligations under Russian Federation Eurobonds are denominated and held in NSD's accounts with a foreign depository.
The Ministry of Finance of the Russian Federation fulfills its obligations on Russian Eurobonds through NSD in accordance with the procedure described in the General Information section.