BOND REDEMPTION OFFER FROM TRANSAERO

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By TESTCustomwebLP TESTCustomwebLP November 10, 2010 21:23

BOND REDEMPTION OFFER FROM TRANSAERO

Transaero Airlines has offered to redeem in cash outstanding bonds of its Series 01 rouble bond issue through an open subscription. No bondholders have chosen to redeem their bonds, which have a maturity date of October 23, 2013, so Transaero is therefore not required to make any payments.

During the redemption period the coupon rate was reduced by 5% and set at 11.85%. The period to the next put option was extended from 12 to 18 months. During redemption period from October 27 to November 3 the bond was being traded with premium and by the close of trading on November 3, 2010 the bond market price was 102.38% of nominal with the respective yield to maturity of 10.43%.

“The successful completion of the bond redemption offer with significant coupon rate reduction has confirmed the investors’ positive attitude to Transaero’s past year results as well as their continuing strong interest in aviation industry,” says Evgeny Temyakov, chief financial officer of Transaero Airlines. “We thank all investors for the long-term cooperation and trust.”

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By TESTCustomwebLP TESTCustomwebLP November 10, 2010 21:23
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