LenSpetsSMU fulfills redemption obligations for БО-02 series exchange bond coupon

28.02.2011

On 24 February 2011, LenSpetsSMU fulfilled its obligations to investors for the redemption of the 3rd coupon of the exchange bonds of БО-02 series (reg. 4B02-02-17644-J dated 12.04.2010) in full and on time.

In total 72.3mn rubles were paid off at a rate of 36.15 rubles per bond, which is equal to a 14.50% annual coupon rate.

As of 25 February 2011 exchange bonds series БО-02 traded at 107.50% above par. Based on that figure and the duration of 1.37 years, the bond yield equates to 9.32% per annum.

REFERENCE:

The exchange bonds series БО-02 for the amount of 2.0bn rubles was placed on 27 May 2010 on a 3-year term. The loan structure does not provide for any put options.

The arrangers of the loan are Alfa-Bank (OJSC) and Promsviazbank (OJSC).

Standard & Poor’s rating agency assigned the credit rating ‘B’ according to the international scale for this bond issue.

LenSpetsSMU’s exchange bonds БО-02 series are included in the list of securities accepted in the provision of direct REPO transactions by the Central Bank of RF.

In addition to the list of direct REPO, since 2008 LenSpetsSMU has featured on the Bank of Russia List of Organizations (a list of companies whose bills and indebtedness can be accepted by Central Bank of Russia as security for credit given to commercial banks), and since 2010 has also featured on section V.2 of the Bank of Russia Lombard List.

The paying agent of the loan is Promsviazbank (OJSC).

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