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LSR Group

September 14, 2010

LSR Group successfully places bonds worth RUB 2 billion

OJSC LSR Group (LSE: LSRG; MICEX, RTS: LSRG) has fully placed  Series BO-02 certificated interest-bearing non-convertible bearer bonds of OJSC LSR Group with a total value of RUB 2 billion. The bonds were placed through public subscription. The first coupon rate amounted 10% in Russian roubles. The interest rate of the second, third, fourth, fifth and sixth coupons is equal to the first coupon rate.

The identifying number of the issue is 4Â02-02-55234-Å dated 24 November 2009. The number of bonds to be placed was 2 million with a nominal value of RUB 1,000 each. The bonds were placed by open subscription on ZAO MICEX Stock Exchange.

Circulation period of the bonds is 1092 days since the commencement date. The circulation period is divided into 6 coupon periods of 182 days each.

The placement was conducted by OOO Uralsib Capital and OJSC Sberbank of Russia.

Elena Tumanova, CFO of LSR Group, commented:
“We consider this placement as the next step in debt capital raising on the public market. For the first time the circulation period of the bonds was 3 years without a put option. We hope that Russian bond market will offer more opportunities for reliable borrowers to raise long-term financing”.

Boris Ginzburg, Executive Director, Head of Debt Instruments Department of URALSIB Financial Corporation, commented:
“Placing the bonds for 3 years was quite a successful transaction since its value totally suited the company’s high credit quality. Besides, in 2010 LSR Group was the first corporate issuer with similar credit ratings to place bonds for maximum possible circulation period of 3 years without a put option. Without doubt, this bond issue will be the highest benchmark of profitability for LSR Group long-term borrowings and create opportunities for future fund raising”.




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