LenSpetsSMU fulfills redemption obligation for 1st Eurobond coupon payment

09.02.2011

On Wednesday 09 February, CJSC SSMO “LenSpetsSMU” fulfilled its obligations to investors for the redemption of the 1st coupon on Eurobonds (LPN) in full and on time.

The total consolidated indebtedness as of February 09, 2011 stands at $302mn with a net debt of $213 mil.

REFERENCE

On 15 November 2010, LenSpetsSMU placed Eurobonds (LPN) for an amount of $150mn. LPNs have an amortization repayment scheme which dates the last payment as due on 09 November 2015. The structure of the loan does not provide for any put options and the interest rate is fixed at a level of 9.75%.

The issue was arranged by IC UFS (LLC). The legal adviser of the transaction was Allen & Overy. The tax advisor was Pepeliaev Group, the trustee is TMF Group and Deutsche Bank (London branch) acting as paying agent.

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