LenSpetsSMU is preparing the second CLN issue.


LenSpetsSMU is preparing the second issue of credit linked notes (CLN). Provided that the market conditions are considered favorable, the CLN could be issued by the end of 2007.

The estimated amount is at least 100 m USD, the maturity is 2 or 3 years. MDM-bank has been assigned as the lead bank, ZAO SSMO LenSpetsSMU will be the borrower, subsidiaries namely ZAO CDR, ZAO AKTIV, and ZAO WFTC SPb will be guarantors, and Moscow River B.V. will be the creditor.

Part of money raised by the issue will be used for the refinancing of the existing debts, the remainder to finance the company’s current operations.

The information on the term sheet of the issue can be obtained from the company’s financial web-site or the lead bank on tel.: +7 495 795-25-21, contact: Anton Kiryukhin and/or Mansur Guseynov.