Corporate Communications

VTB Capital completes successful tender and consent solicitation by TMK for TMK Capital S.A.’s outstanding $600m 10.00% Loan Participation Notes due 2011 ("LPNs")

7 August 2009

TMK announced final results of its tender and consent solicitation to holders of OAO TMK Capital S.A.'s outstanding LPNs. Under tender invitation TMK has accepted $413.3 million principal amounts of the LPNs. In total noteholders, holding $534.2 in principal amount of the LPNs, voted in favour of the consent, representing 89% of the overall outstanding LPNs.

VTB Capital and UBS acted as joint dealer managers on the tender and consent solicitation.

Andrey Solovyev, Global Head of Debt Capital Markets, VTB Capital, said: “We are proud to successfully complete this deal for TMK. This is the second liability management transaction VTB Capital executed in 2009 and one of the largest transactions of this kind in Russia and CIS”.


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