LenSpetsSMU redeems another tranche of Rosbank credit in advance

02.04.2010

On 1 April CJSC SSMO LenSpetsSMU redeemed another tranche of its credit from OJSC AKB ROSBANK for the amount of 6.9 ml USD ahead of schedule.

The renewable credit line from ROSBANK for 50 ml USD was opened on 30 January 2008 and prolonged on 16 July 2009 until 30 January 2011. The line is being redeemed according to an amortization scheme in six equal quarterly installments.

With the redemption of the tranche LenSpetsSMU’s credit line debt decreases to 20.6 ml USD. The total amount of the credit portfolio as of 01 April 2010 stands at 167.3 ml USD, the net debt – 133.3 ml USD.

CONTACT DETAILS:

Natalia Menzel, Head of Public Relations

tel. (812) 348-21-25, e-mail: menzel_n@lenspecsmu.ru

Viktor Vasenev, Deputy CFO

tel. (812) 348-09-95, e-mail: vasenev_v@lenspecsmu.ru