TransCreditBank Executes the Put Option

On June 25, 2009 TransCreditBank fully discharged its obligation to redeem its series 02 bond.

Pursuant to the terms and conditions of the put option exercisable 2 years after the launch of the bond offering the Bank redeemed 1,591,500 bonds put by bondholders for the total amount of RUR1,597.4 mln including the accrued coupon interest of RUR5.9 mln.

The Bank placed all bonds put for redemption in the open market on the same day. The secondary offering was underwritten by JSC Moscow Bank for Reconstruction and Development. 25 deals were closed, with the entire secondary offering placed at the uniform price of 99.9% of par. The Bank set the rate of semiannual coupons 5-7 payable before the put option exercisable on December 23, 2010 at 15% p.a.

The deal was placed by major Russian and foreign financial institutions. The lead co-arrangers were Deutsche Bank, Dresdner Bank and IC Renaissance Capital. On June 19, 2007 TransCreditBank placed its serie 02 bonds, with maturitie of 5 years, respectively, at MICEX. The release volume has made 3 million bonds face value of bond is RUR1,000 everyone for a total sum of RUR3 bn.

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