LenSpetsSMU fulfills fifth coupon redemption obligations of БО-02 series bonds

26.08.2011

On 25 August 2011, LenSpetsSMU fulfilled its obligations to investors for the redemption of the 5th coupon of the БО-02 series of bonds (reg. 4B02-02-17644-J dated 12.04.2010) in full and on time.

In total, 65.1mn rubles of the coupon were paid off. The coupon was paid at a rate of 32.54 rubles per bond; equaling 14.50% of the annual coupon rate.

As of 16 August 2011 bonds series БО-02 has been trading at a price of 104.71% above par, with duration of 1.05 years; generating yields of 10.48% per annum.

The credit portfolio now stands at 368.9mn USD as of 26.08.2011, with net debt at 330.4mn 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:

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