TMK, a leading global producer of steel pipes for the oil and gas sector, today announced that it carried out the repayment of its first Eurobonds issue of USD 300 million and proceeded to its sixth coupon payment of USD 12.75 million.

The aggregate amount paid out was USD 312.75 million. The repayment of the Eurobond was financed through a USD 300 million loan from VTB.

TMK’s first Eurobonds issue was placed in September 2006 at an annual rate of 8.5% for a period of three years.

"Thanks to the support of strategic partners such as VTB, TMK continues to successfully refinance its short-term obligations and improve its debt profile in these challenging financial times,” said Alexander Shiryaev, TMK CEO.