Sidetur Finance B.V. NOTICE OF EVENT OF DEFAULT
THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO NOTEHOLDERS. IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS, AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUESTED TO EXPEDITE RETRANSMITTAL TO SUCH NOTEHOLDERS IN A TIMELY MANNER. To:
Noteholders as their Names and Addresses Appear on the Register and Those Additional Parties Listed on Schedule I hereto
Reference is made to that certain Indenture dated as of May 3, 2006 (the “Indenture”), among Sidetur Finance B.V., as issuer (the “Issuer”), Siderurgica del Turbio, S.A. , as guarantor (the “Guarantor”), Deutsche Bank Trust Company Americas, as trustee, paying agent and transfer agent (the “Trustee”), and Deutsche Bank Luxembourg S.A., as Luxembourg listing agent, special paying agent and Luxembourg transfer agent. Capitalized terms used herein and not defined shall have the meanings assigned to such terms in the Indenture. Pursuant to Section 9.6(b) of the Indenture, the Trustee hereby gives you notice that there has been an Event of Default pursuant to Section 5.1(a)(ix) of the Indenture, which provides that there is an Event of Default if at any time the Debt Service Reserve is not Fully Funded and the Issuer fails to cause the Debt Service Reserve to be Fully Funded within five (5) Business Days thereafter. Unless otherwise instructed and directed in accordance with the terms of the applicable transaction documents, the Trustee does not intend at this time to take any further action. Pursuant to Section 9.1(c)(ii) of the Indenture, the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by the Indenture at the request, order or direction of the Required Noteholders unless the Required Noteholders shall have furnished to the Trustee security or indemnity reasonably satisfactory to it against the costs, expenses and liabilities that might be incurred by the Trustee therein or thereby. This notice is without prejudice and the Trustee reserves all of the rights, powers, claims, and remedies of the Trustee under the Indenture and applicable law. No delay or forbearance to exercise any right or remedy accruing under the terms of the Indenture, other documentation relating thereto or under applicable law shall impair any such right or remedy or constitute a waiver thereof or an acquiescence therein. Please note that the foregoing is not intended and should not be construed as investment, accounting, financial, legal or tax advice by or on behalf of the Trustee or their directors, officers, agents, attorneys or employees. Each party receiving this notice should seek the advice of its own advisers in respect of the matters set forth herein.
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If you have any questions regarding the foregoing, please contact Stan Burg of Deutsche Bank Trust Company Americas at (201) 593-4749 or at stan.burg@db.com. DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
DATED: January 30, 2013
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SCHEDULE I
Sidetur Finance B.V., as Issuer Prof. J.H. Bavincklaan 7 1183AT, Amstelveen The Netherlands Fax: 0031(0)20 3013636 Attention: Maricela Robles (legal) or Josina van Dam (accounting) Siderurgica del Turbio, S.A. “Sidetur�, as Guarantor Avenida Intercomunal de Antimano Zona Industrial La Yaguara, Distrito Federal Caracas, Venezuela Fax: 58 212 707 6335 Attention: Gustavo Machado
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