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Vneshtorgbank makes a full placement of the second issue of East Line Handling bonds worth RUR 3 billion

 
26 May 2005

On May 26, 2005, EAST LINE HANDLING bonds worth RUR 3 billion were fully placed on the MICEX trading platform.

During the placement, there were more than 98 investors bidding for subscription. The aggregate demand at the auction reached RUR 3,377.8 million with the investors forecasting the first coupon rate in the range of 11.40% to 11.59% on year.

The first coupon rate was set by the Issuer at 11.59% (eleven point fifty nice percent) p.a. (or fifty seven Roubles and seventy nine kopeeks per a bond), with second and third coupon rates being set equal the first coupon. Other coupon rates shall be defined by the Issuer. The issue provides for a put option to be exercised by the Issuer on November 27, 2006, at par value.

Effective yield to an 18 month put option reaches 11.93%.

The whole issue was placed during the auction on the bonds offering commencement date.

Vneshtorgbank is a lead-manager and an underwriter of the issue.

Among the leading underwriters of the placement are NOMOS Bank, Renaissance Capital, Gazprombank, and SOYUZ Bank.

Co-underwriters of the placement are MDM Bank, URALSYB, ROSBANK, Moscommertsbank, and Svyaz Bank.

Federal Stock Corporation is a financial advisor of the issuer. The NDC acts as a depository and paying agent.

East Line Handling`s bonds are issued to bearer with its nominal value totaling 3 billion Russian Roubles. The issue was registered on December 30, 2004, under State Registration No. 4-02-06006-N. Guarantors of the Issue are the leading companies of East Line Group - DOMODEDOVO Terminal, DOMODEDOVO International Airport and DOMODEDOVO Jet Service. Maturing in 1,095 days (3 years), the bonds have six semiannual coupons. First, second and third coupons` rates are equal and will be auctioned. Other coupons` rates are to be defined by the Issuer. Bond holders will be entitled to an early redemption at their par value in a year and a half - on the third coupon payment date. An official irrevocable offer for the bond redemption was published in the Vedomosti newspaper, on May 16, 2005.

International rating agency Standard & Poor`s confirmed its Russian scale rating of "ruBBB-" awarded to East Line Handling.

Further information about the issue structure and financial position of the Issuer can be found in issue documents and information memorandum placed on the web-sites of the Issuer ( (www.eastline.ru) and Vneshtorgbank (www.vtb.ru).


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