LenSpetsSMU pays off bonded loan series 02 of CJSC CDR in full and on time

20.01.2010

On 20th January, CJSС “Central Department of Real Estate LenSpetsSMU” (CJSC CDR) repaid the seventh coupon and paid off bonded loan series 02 in full and on time.

CJSC CDR bonded loan series 02 amounting to 1.5 bn rubles was placed in July 2006 for a term of 3.5 years. The arranger of the issuance was OJSC “Bank of Moscow”. After execution of the offer (put-option) by the issuer in July 2008, obligations totaling 580 rubles at a nominal value remained in flotation and were paid off on 20th January 2010 in full.

The previous bonded loan of CJSC CDR (series 01) amounting to 1.0 bn rubles was repaid ahead of schedule on 21st February 2008 (two years before flotation expiration) on the initiative of the issuer (call-option) due to excess liquidity and a desire to restructure the loan portfolio.

CJSC CDR remains present at the public loan market in the capacity of security for its parent company – CJSC SSMO LenSpetsSMU’s bonded loan series 01 amounting to 2 bn rubles placed on 23d December 2009 for a term of three years and no offers (put options) are currently expected. Payment of the coupons is due to be executed in quarterly installments. Redemption of the issuance is due to be executed according to amortization redemption (20 % on the date of 4th, 6th, 8th, 10th and 12th coupon payment). MICEX has included the issuance in quotation list ‘B’. In the long-term the bonds are planned for inclusion in the Lombard list of the Russian Federation Central Bank. The arrangers of the issuance are OJSC “Alfa-Bank” and OJSC “Promsviazbank”. This placement was the first and only one for construction industry companies in 2009.

Since the beginning of its credit history in 2000, Etalon-LenSpetsSMU Group’s companies have not once broken their obligation fulfillment in relation to public debt instruments or bilateral credits.

NOTE

The public history of Etalon-LenSpetsSMU Group’s loans dates from 2005, when the first bonded loan of CJSC CDR amounting to 1 bn rubles was placed.

CONTACT DETAILS

Mikhail Dukhovny, Director of Corporate Communications Department
Telephone: +7 (812) 348-21-25, e-mail: dukhovny_m@lenspecsmu.ru

Victor Vasenev, Deputy CFO
Telephone: +7 (812) 348-09-95, e-mail: vasenev_v@lenspecsmu.ru

All in all LenSpetsSMU has successfully operated in the public market of debt capital four times, attracting over 7 bn rubles.

CONTACT DETAILS

Mikhail Dukhovny, Director of Corporate Communications Department
Telephone: +7 (812) 348-21-25, e-mail: dukhovny_m@lenspecsmu.ru

Victor Vasenev, Deputy CFO
Telephone: +7 (812) 348-09-95, e-mail: vasenev_v@lenspecsmu.ru


No.

Issuer / Borrower

Financial leverage

Amount

Placing date / Redemption date

1

CJSC CDR

Bonded loan series 01

1 000 million rubles.

28.04.2005 / 21.02.2008

2

CJSC CDR

Bonded loan series 02

1 500 million rubles.

26.07.2006 / 20.01.2010

3

CJSC SSMO LenSpetsSMU

CLN 01

100 million dollars.

26.04.2007 / 20.08.2010

4

CJSC SSMO LenSpetsSMU

Bonded loan series 01

2 000 million rubles.

23.12.2009 / 07.12.2012