Investors preferred to keep TGC-1 bonds of 02 series in their portfolios

12.07.2011

The holders of bonds of JSC TGC-1 of 02 series presented for redemption 2 105 813 securities for an overall amount of 2 105,813 mln RUB that makes 42,1 % of loan total amount.

The possibility of sale at the price of 100 % of par value was provided by the conditions of issue allowing the Company to reconsider the rate of the coupon once in two year period. On June, 28th, 2011 TGC-1 reported about fixing of size of 5-8 loan coupons of 02 series at a level of 6.7 % per annum of par value. The rate of 1-4 coupons amounts to 16.99 % annum, the Company executed its obligations under these coupons in full. TGC-1 paid the bonds submitted to redemption at the price of 100 % of par value. Accrued income was calculated separately, the total sum of payments under it made 2.5 mln RUB. Offer loan agent was JSC Bank "Rossiya".

“The results of the offer confirm that investors highly appreciate TGC-1 as reliable borrower. 6.7% interest rate corresponds to the current level of loans of the Company on the credit market” - Kirill Lykov, the Director for Economy and Finance of JSC TGC-1, comments. The loan of 02 series of JSC TGC-1 for an overall amount of 5 bln RUB was placed in July, 2009. Presently the bonds of 02 series are listed in quotation list B of MICEX.