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July 26, 2011

MMK announces the results of its RUR 5 bln bonds placement at MICEX

On July 26, 2011 MMK placed its RUR 5 bln bonds (series ÁÎ-07) with the maturity period of 1092 days (3 years). The offer for the issue is not provided. The issue is included in the list “Á” at MICEX.

The total value of demand from investors equaled to RUR 7.7 bln which translates into more than 1.5x oversubscription. The first coupon rate was set based on the results of a coupon rate tender held at MICEX. 44 bids were sent for the tender with coupon rate varying from 7.00 to 7.40%. As the result the annual coupon rate was set at 7.25%, which is at the bottom of the earlier announced price range – 7.25-7.45%. The rate of the second-third-fourth-fifth-sixth coupon equals the first coupon rate. The overall number of satisfied bids was 30. This bond issue was placed in line with the strategy of long-term financing rising for MMK’s investment programme realization. The programme aims at organic growth of the company and increase of HVA products share in the production portfolio. The managers of the placement are OAO “URALSIB”, OAO “Sviaz Bank” and Investment Company RFC. Information on MMK: MMK is among the world's largest steel producers and is one of the leaders of Russia's steel industry. The company's operations in Russia include a large steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of higher value added products. In 2010 MMK Group produced 11.4 mln tons of crude steel and 10.4 mln tons of commercial steel products. MMK Group revenue in 2010 stood at USD 7.719 bln, EBITDA at USD 1.606 bln, profit for the period - USD 232 mln.




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