TMK redeemed 5.25% convertible bonds

To redeem the bonds TMK used cash accumulated from operating and financial activities, including four-year USD denominated credit facility from one of the leading Russian commercial banks.

The company currently does not plan public offering of 17,876 million GDRs (representing 71,506 million of TMK shares or 7.21% of the company’s share capital) underlying the bonds and intends to keep them as treasury shares.

TMK has no more international public debt maturing before 2018.