Subsequent events

In January 2013 the Group issued two sets of bonds, which form part of an approved bond issue programme worth a total nominal value of 100,000. These issues, Bond issue №15 and Bond issue №18, amount to 5,000 and 10,000, respectively. The coupon has been set at 8.20% per annum, with a period of 182 days. The bonds with a nominal value of RUB 1,000 per bond have a maturity of 5 years from placement. The bonds are not subject to any buyback offer. The bonds are to be redeemed based on the following amortization schedule: 50% of the principal to be repaid on the date of 9 coupon payment and 50% on the date of 10 coupon payment. CJSC VTB Capital, OJSC Gazprombank OJSC and CJSC Sberbank CIB have organized the placements.

In March 2013 the Group issued 5-year series 19 bonds with a nominal value of 10,000. The coupon has been set at 8.10% per annum, with a period of 182 days. The bonds with a nominal value of RUB 1,000 per bond have a three-year put option from placement and a maturity of 5 years from placement. The bonds are to be redeemed based on the following amortization schedule: 50% of the principal to be repaid on the date of 9 coupon payment and 50% on the date of 10 coupon payment.

As at 13 March 2013 all the above mentioned issues are fully placed and included in quotation list «A1» on the MICEX.

The Group plans to invest the obtained finance resources on financing of general corporate purpose, implementation of the investment programme and refinancing of outstanding loans.

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