LenSpetsSMU fulfills redemption obligations for ninth coupon of 01 series bonds

13.03.2012

On 12 March 2012, LenSpetsSMU fulfilled its obligations to investors for the redemption of the 9th coupon of the 01 series of bonds (reg. 4-01-17644-J dated 12.11.2009) in full and on time.

In total, 31.56mn rubles of the coupon was paid off. The coupon was paid at a rate of 15.78 rubles per bond; equaling 16.00% of the annual coupon rate. The outstanding indebtedness of this issue is 800mn rubles.

As of 11 March 2012 bonds series 01 traded at a price of 103.99% above par, with a duration of 0.47 years; corresponding to yields of 7.89% per annum.

Based on these redemptions, the credit portfolio now totals 344.0mn USD as of 13.12.2011, with net debt at 302.5mn USD.

REFERENCE:

The bonds series 01 for the amount of 2.0bn rubles was placed on 23 December 2009 for a 3-year term. The structure of the loan does not provide for any put options.

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

LenSpetsSMU’s loan placement was the first and the only one of its kind for companies in the construction industry during 2009.

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

LenSpecSMU’s bonds 01 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 been included 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 against credit given to commercial banks), and since 2010 also in section V.2 of the Bank of Russia Lombard List.

The paying agent of the loan is Alfa-Bank (OJSC).


CONTACT DETAILS:

Elena Kazakova, Head of Public Relations

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

Elena Dykova, Lead economist of financial department

tel. (812) 348-42-73, e-mail: Elena.Dykova@etalongroup.com