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Transmashholding fully placed the second bond issue worth RUR 4 billion

15 February 2007

On 15 February 2007, a full placement was made on the MICEX stock exchange of the second issue of documentary interest bearing bonds payable to bearer issued by Transmashholding and worth RUR 4 billion.

There were 112 bids submitted by the investors, with the total volume reaching RUR 7.85 billion. The proposed first coupon rate ranged from 8.00% to 9.10% p.a., and most of the bids were within 8.55% to 8.70% p.a. According to the arrangers' estimates, foreign investors' demand reached 28% of the issue.

The first coupon rate was set by the auction at placement and amounted to 8.60% p.a. (which is RUR 42.88 per a bond); the rates of the second to forth coupons were equal to the first coupon rate, the other coupon rates will be extra set by the Issuer.

Effective yield to a two-year offer was 8.79% p.a., that is lower than the yield bottom line estimated by the arrangers before the placement. Such a success was underpinned by a favorable market environment, impressive membership of the syndication and high credit quality of Transmashholding.

As a result of the auction, 43 bids were satisfied.

The issue was fully placed on the commencement day, with 308,850 bonds being placed in the evening trading session.

VTB, Alfa-Bank and TransCreditBank were appointed the arrangers of the issue, and placement agents were VTB and Alfa-Bank.

Co-arrangers of the placement were Deutsche Bank, Bank SOYUZ, Bank ZENIT, Bank of Moscow, MDM-Bank, URSA Bank, Commerzbank, NovikomBank, NOMOS Bank, URALSIB Financial Corporation, Bank of Khanty-Mansiysk, and Uniastrum Bank.

Co-underwriters of the issue are BARS Commercial Bank, ALOR Invest, Evrofinance Mosnarbank, MBRD, Credit Bank of Moscow, Conversbank, RIGroup Finance, and Jewels of the Urals Commercial Bank. The volume of Transmashholding bond issue is RUR 4 billion (State Registration Number is 4-02-35992-H of 26 September 2006). The issue matures in 4 years (1456 days) and will have semi-annual coupon payment. The rates of the first to forth coupons are 8.60% p.a., the other coupon rates will be extra set by the Issuer.

National Depository Center participated as a paying agent and depository of the bonds.

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