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VTB Capital and UBS will act as joint dealer managers of a cash tender and consent solicitation for TMK outstanding second Eurobond issue. The tender offer is open to holders of the notes until 31 July 2009 and up to $425m will be used by TMK for this transaction. The tender and consent solicitation results will be announced on the 6th of August 2009.
Consent solicitation, if successful, will result in amendments of certain covenants of TMK's outstanding LPNs, including increase in the level of permitted secured indebtedness.
Andrey Solovyev, Global Head of Debt Capital Markets, VTB Capital, said: “TMK is one of the world’s leaders on steel pipe market and we are pleased to be chosen as a dealer manager on this transaction. Our team posses extensive experience on international capital markets and we are sure we can lead the deal to provide our client with the most efficient solutions and desired results.”Press office email@example.com Head of Press Natalia Cherepova Natalia.Cherepova@vtbcapital.com
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