29th Sep 2009 15:44
September 29, 2009 PRESS RELEASE
TMK Repays First Eurobonds
TMK, a leading global producer of steel pipes for the oil and gas sector, today announced that it carried out the repayment of its first Eurobonds issue of USD 300 million and proceeded to its sixth coupon payment of USD 12.75 million.
The aggregate amount paid out was USD 312.75 million. The repayment of the Eurobond was financed through a USD 300 million loan from VTB.
TMK's first Eurobonds issue was placed in September 2006 at an annual rate of 8.5% for a period of three years.
"Thanks to the support of strategic partners such as VTB, TMK continues to successfully refinance its short-term obligations and improve its debt profile in these challenging financial times," said Alexander Shiryaev, TMK CEO.
TMK (www.tmk-group.com)
TMK (LSE: TMKS) is the largest pipe producer in Russia and one of the three global market leaders.
In 2008, TMK shipped over 3.2 million tonnes of pipes. TMK supplies to companies in more than 65 countries.
TMK production facilities are located in Russia, the United States, Romania and Kazakhstan
Volzhsky Pipe Plant
Seversky Tube Works
Taganrog Metallurgical Works
Sinarsky Pipe Plant
TMK IPSCO
TMK-Europe
TMK-Kaztrubprom
TMK Oilfield Services
TMK-Premium Service
For further information please contact:
TMK IR Department
Alexei Ratnikov / Olivier Harvey
Tel: +7 495 775 7600
Email: [email protected]
TMK PR Department
Alexey Sotskov
Tel: +7 495 775 7600 ext. 2125
Email: [email protected]
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