LenSpetsSMU fulfills fourth coupon redemption obligations and amortization of БО-02 series bonds

27.05.2011

On 27 May 2011, LenSpetsSMU fulfilled its obligations to investors for the redemption of the 4th coupon and amortization of 10% of the БО-02 series of bonds (reg. 4B02-02-17644-J dated 12.04.2010) in full and on time.

In total, 72.3mn rubles of the coupon and 200mn rubles of the nominal value were paid off. The coupon was paid at a rate of 36.15 rubles per bond; equaling 14.50% of the annual coupon rate.

As of 16 May 2011 bonds series БО-02 has been trading at a price of 107.02% above par, with a duration of 1.15 years;generating yields of 8.82% per annum.

Based on these redemptions, the credit portfolio now stands at 321.2mn USD as of 27.05.2011, with net debt at 226.6mn USD.

REFERENCE:

The exchange bonds series БО-02 for an 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