Winners in the second auction of the Pilot Auction Facility took hold of a series of puttable bonds (PAFERNs) which can be redeemed annually for four years. This timeline and Q&A highlight the steps necessary to exercise the third serie of PAFERNs.
|Aug. 30, 2019||Sep. 23, 2019||Oct. 15, 2019||Nov. 5, 2019||Nov. 13, 2019||Nov. 27, 2019|
|First day for Noteholders to deliver a Final Redemption Notice and definitive registered Certificate, including identification of Carbon Credits for the First Check. Notes can no longer be transferred on or after this date.||Deadline for Noteholders to deliver (i) a Final Redemption Notice and definitive registered Certificate, including identification of Carbon Credits for the First Check; and (ii) the EHS Audit Report(s) to the Verification Agent.||Deadline for Verification Agent to qualify Carbon Credits at First Check and send confirmation to Noteholder.||Deadline for Noteholders to transfer Qualifying Carbon Credits from an Eligible Account from First Check to specified Verification Agent’s Carbon Credit||Deadline for Verification Agent to qualify Carbon Credits at Second Check and send confirmation to the Global Agent, the Calculation Agent and the Bank.||Maturity Date|
|Maturity Date||Nov. 27, 2019|
|Eligible Issuance Date||Any date between Apr. 1, 2018 and Sep. 23, 2019|
|Eligible Monitoring Period (CER) or Vintage Period (VER, VCU) start date||Any date on or after the Auction Date (May 12, 2016)|
DISCLAIMER: This Q&A has been prepared by the PAF Secretariat to assist Noteholders in locating in the Final Terms relevant information about the PAFERNs redemption process. The Final Terms remains the definitive binding document on Noteholders and the Issuer. The Final Terms can be found on this webpage: http://www.pilotauctionfacility.org/content/second-auction-paferns
- Can you please clarify the eligible monitoring period dates, issuance dates, deadline for the Final Redemption Notice, and Maturity date?
The information can be found in section “Eligible Generation / Issuance Period” of this webpage: http://www.pilotauctionfacility.org/second-auction-criteria