The Ukrainian Metal

Russia: TMK pays off $231 million of Eurobonds

TMK, one of the world’s leading manufacturers of tubular products for the oil and gas industry, announces full redemption of the loan participation notes due in January in the total nominal value of $231 million on January 29.

The $500-million eurobonds with a coupon rate of 7.75% and a 7-year maturity were issued by TMK Capital SA on January 27, 2011 to finance a loan to PAO TMK. Part of the issue in the amount of $269 million was repurchased earlier under tender offers and cancelled.

On the date of the announcement, TMK has outstanding eurobonds due in April 2020 in the total amount of $500 million with a coupon rate of 6.75% and a 7-year maturity. (MetalInfo/Ukrainian metal)

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