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LSR Group

February 7, 2014

LSR Group executes put option for its bonds

OJSC LSR Group (LSE: LSRG; MICEX-RTS: LSRG), one of the leading real estate developers and building materials producers in Russia, completed buy-back of its Series BO-03, BO-05 and Series-04 bonds. The total amount of transaction was RUB 1,611,987,921.04.

The bonds were bought back in accordance with the Public Offer as of 22 December 2013.
Identification number of Series BO-03: 4B02-03-55234-E as of 16.02.2011.
The total amount of certificated interest-bearing non-convertible bearer bonds with mandatory safekeeping submitted was 186,116. The total amount of transaction was RUB 193,255,299.04 including the accrued interest.
Identification number of Series BO-05: 4B02-05-55234-E as of 16.02.2011.
The total amount of certificated interest-bearing non-convertible bearer bonds with mandatory safekeeping submitted was 683,576. The total amount of transaction was RUB 685,797,622 including the accrued interest.
Registration number of Series-04: 4-04-55234-E îň02.11.2011.
The total amount of certificated interest-bearing non-convertible bearer bonds with mandatory safekeeping submitted was 700,000. The total amount of transaction was RUB 732,935,000 including the accrued interest.
Broker: OOO URALSIB Capital.
Dmitry Kutuzov, Chief Financial Officer of LSR Group, comments:
"High sales volume in 2013 increased cash flow generation and allowed us to accelerate company’s debt reduction. In 2013 we paid back our bondholders around RUB 8 billion, and we will proceed with further debt portfolio optimization. As a result, as of year-end 2013 company’s net debt amounted to less than RUB 30 billion. Detailed data on our debt position will be disclosed on March 19 together with Full Year 2013 financial results (IRFS)."
Notes to Editors:
OJSC LSR Group is a diversified construction company operating in a number of complementary market segments. The company was founded in 1993. Its core business areas are production of building materials, panel construction and real estate development. The company unites business units for extraction and processing of aggregates, production and transportation of building materials, construction upon projects of leading Russian and foreign architects – from mass-market to elite residential properties. LSR Group's main operations are located in St. Petersburg, Leningrad region, Moscow, Moscow region, Yekaterinburg and Ural region. As of 31 December 2012 (according to Cushman & Wakefield Russia), the net sellable area of the projects in LSR Group’s real estate portfolio is equal to 8.7m m2 with the market value of RUB 120bn. In 2012, the sales revenue of LSR Group amounted to RUB 61,122m (IFRS) LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on MICEX-RTS.
For more information please contact:
LSR Group Press Service
Tel.: +7 812 314 10 44
Fax: +7 812 458 83 72
E-mail: press@lsrgroup.ru

 

 

 

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