Итоги досрочного выкупа облигаций ОАО «ТГК-1» серии 01

On March 15, TGC-1 has fully settled its obligations to repurchase bonds of series 01.    

On March 2, the11-14th coupon rate was set at 7.6% per annum and thus owners of the bonds were provided with the opportunity to submit their bonds for redemption starting March 06 until March 13, 2012. 1,143,503 bonds were traded up to present (28.6% of the flotation value). 742,852 bonds were submitted for redemption with total nominal value of RUR 742,852,000.

After the said redemption 400,651 bonds of series 01 will remain in circulation (10% of the issue volume).

TGC-1 series 01 bond issue (registration number 4-01-03388-D) with the total volume of RUR 4 billion was the Company’s first ever bond issue which was placed at MICEX on March 20, 2007. The bonds’ circulation period is 7 years.  The redemption date is March 11, 2014. The interest rate was set at 7.75% per annum for 1-6th coupons.  

Pursuant to the bonds issue rules, the coupon rate can be reviewed at the Issuer’s discretion and TGC-1 shall ensure the bonds owners’ right to request the bonds repurchase starting from the coupon period with non-fixed interest rate as of the date of the bonds placement.  

In 2010 due to the review of the 7-10th coupon rate which was set at 8.5% per annum, the bond owners were provided the opportunity to submit their bonds series 01 for early redemption in accordance with the issue rules. Not a single bond was submitted for redemption.

For Reference:

On March 11, 2012, TGC-1 has successfully completed issuing 10-year bonds of series 04 at MICEX. The volume of the issue is RUR 2 billion. The first coupon rate was fixed at 7.6%.

Three TGC-1 bond issues of series 01 - 03 are traded at MICEX. 11-14th coupon rate of the bond 01 to be repaid on March 11, 2014 is 7.6% per annum, 5-8th coupon rate of the bonds 02 to be repaid on July 1, 2014 is 6.7% per annum, 1st coupon rate of the bonds 03 to be repaid on December 14, 2021 is 10.3% per annum.