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Alfa-Bank and VTB make a full placement of Lenenergo bond issue worth RUR 3 billion.

5 February 2007

On 02 February 2007, a full placement was made on the MICES stock exchange of the second issue of documentary interest bearing bonds payable to bearer issued by JSC Lenenergo and worth RUR 3 billion.

There were 72 bids submitted by the investors, with the total volume reaching RUR 4.85 billion. The proposed first coupon rate ranged from 8.15% to 8.90% p.a., and most of the bids were within 8.50% to 8.60% p.a.

The first coupon rate was set by the auction at placement and amounted to 8.54% p.a. (which is RUR 42.58 per a bond); the rates of the second to tenth coupons were equal to the first coupon rate.

Effective YTM of the bonds was 8.72% p.a.

As a result of the auction, 39 bids were satisfied.

The issue was fully placed on the commencement day. Such a success was underpinned by a favorable market environment, impressive membership of the syndication and high credit quality of Lenenergo.

Alfa-Bank and VTB acted as arrangers and underwriters.

ABSOLUT BANK, Dresdner Bank, Evrofinance Mosnarbank, ROSSIYSKIY KREDIT Bank and Bank SOYUZ were the co-arrangers.

AK BARS Bank, TransCreditBank, International Bank of St. Petersburg, Metallinvestbank, National Reserve Bank, NovikomBank, NOMOS BANK, Rosselkhozbank, RTK-Broker, IC Russ-Invest, TRINFICO Investment Company, Uniastrum Bank and Russian International Bank acted as co-underwriters.
The volume of Lenenergo bond issue is RUR 3 billion (State Registration Number is 4-02-00073-А of 14 November 2006). The issue matures in 5 years (1820 days) and will have semi-annual coupon payment. The annual rates of the first to tenth coupons are 8.54% p.a.

Alfa-Bank and VTB acted as arrangers and underwriters, National Depository Center participated as a paying agent and depository of the bonds.

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