Об установлении очередной процентной ставки по облигациям ОАО «ТГК-1» серии 02

JSC TGC-1 has fixed 5th -8th annual coupon rate of 02 series bonds (the state registration number 4-02-03388-D) as 6,7 per cent par value per annum.

The 5 bln rubles loan was placed by the Company in July, 2009. Nowadays bonds of JSC TGС-1 of 02 series are traded in quotation list B of MICEX. The rates of 1-4 coupons of the second loan of TGC-1 bonds were determined at the rate of 16.99 % of par value per annum. Under 1-3 coupons JSC TGС-1 has executed its obligations in full. The 4th coupon of 02 series will be accrued to the bondholders on July, 5th, 2011.

Within last five days of the fourth coupon period (from 01.07.2011 till 05.07.2011) holders of 02 series bonds can put them for redemption. JSC TGC-1 has fixed the securities acquisition price at the rate of 100 % of its par value exclusively of the accumulated coupon interest which will be calculated according to the issue documents and to be paid to the seller of bonds in addition. JSC BANK ROSSIYA will act as an agent of the Issuer on acquisition of bonds pursuant to the requirement of its owners.

“Bonds of 02 series were issued to finance the investment program at 2009. The coupon rate was adequate to the market, however now it is the most expensive source of financing in the credit portfolio of JSC TGC-1, – the JSC TGC–1 Director of Economic and Financial Affairs Kirrill Lykov noticed. – Cost reduction of its service will allow to optimize the Company expenses essentially. The fixed rate of 6.7 % per annum corresponds to the modern market conditions of money resources placement. Taking into account the high level of reliability of TGC-1 we believe that the bondholders will be interested in its storage in the portfolios. But in case of presentation of bonds to redemption we will carry all our obligations by means of attraction of cheaper credit resources”.