LenSpetsSMU fulfills redemption obligation for 3rd Eurobond coupon payment


On Tuesday 09 August, CJSC SSMO “LenSpetsSMU” fulfilled its obligations to investors for the redemption of the 3rd coupon on Eurobonds (LPN) in full and on time.

Sum of interest paid amounted to 3 615 625 US dollars.

The total consolidated indebtedness as of August 09, 2011 stands at $348mn with a net debt of $322 mil.


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.


Elena Kazakova, Head of Public Relations

tel. (812) 348-21-25, e-mail: Elena.Kazakova@etalongroup.com

Viktor Vasenev, Deputy CFO

tel. (812) 348-09-95, e-mail: Viktor.Vasenev@etalongroup.com