February 12, 2015 Press Release
TMK announces redemption of 5.25% 2015 convertible bonds
The following contains forward looking statements concerning future events. These statements are based on current information and assumptions of TMK management concerning known and unknown risks and uncertainties.
OAO TMK ('TMK' or 'the Company'), one of the world's leading producers of tubular products for the oil and gas industry, informs that on February 11, 2015 the Company redeemed its 5.25% Convertible Bonds due 2015 convertible into GDRs each representing four ordinary shares of TMK.
To redeem the bonds TMK used cash accumulated from operating and financial activities, including four-year USD denominated credit facility from one of the leading Russian commercial banks.
The Company currently does not plan public offering of 17,876,489 GDRs (representing 71,505,956 of TMK shares or 7.21% of the Company's share capital) underlying the bonds and intend to keep them as treasury shares.
TMK has no more international public debt maturing before 2018.
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Redemption of 5.25% 2015 Convertible Bonds Conference Call:
TMK's management will hold a conference call to discuss redemption of 5.25% 2015 Convertible Bonds today, February 12, 2015, at 09:00 New York / 14:00 London / 17:00 Moscow.
To join the conference call please dial:
UK Local: +44 20 3427 1903
UK Toll Free: 0800 279 5736
Russia: +7 495 213 0977
U.S. Local: +1 212 444 0896
U.S. Toll Free: 1 877 280 2342
Conference ID: 9757267
(We recommend that participants to start dialing-in 5-10 minutes prior to ensure a timely start of the conference call)
The conference call replay will be available through February 13, 2015:
UK Local: +44 20 3427 0598
UK Toll Free: 0800 358 7735
U.S. Local: +1 347 366 9565
U.S. Toll Free: 1 866 932 5017
Access Code: 9757267
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For further information regarding TMK please visit www.tmk-group.com or download the YourTube iPad application from the App Store https://itunes.apple.com/ru/app/yourtube/id516074932?mt=8&ls=1
or contact:
TMK IR Department:
Marina Badudina
Tel: +7 (495) 775-7600
IR@tmk-group.com
TMK PR Department:
Ilya Zhitomirsky
Tel: +7 (495) 775-7600
PR@tmk-group.com
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TMK (www.tmk-group.com)
TMK (LSE: TMKS) is a leading global manufacturer and supplier of steel pipes for the oil and gas industry, operating 28 production sites in the United States, Russia, Canada, Romania, Oman, UAE, and Kazakhstan and two R&D centers in Russia and the USA. In 2014, TMK's pipe shipments totalled 4.4 million tonnes. The largest share of TMK's sales belongs to high margin oil country tubular goods (OCTG), shipped to customers in over 80 countries. TMK delivers its products along with an extensive package of services in heat treating, protective coating, premium connections threading, warehousing and pipe repairing.
TMK's securities are listed on the London Stock Exchange, the OTCQX International Premier trading platform in the U.S. and on the Moscow Exchange MICEX-RTS.
TMK's assets structure by division:
Russian division:
Volzhsky Pipe Plant;
Seversky Tube Works;
Taganrog Metallurgical Works;
Sinarsky Pipe Plant;
TMK-CPW;
TMK-Kaztrubprom;
TMK-INOX;
TMK-Premium Service;
TMK Oilfield Services.
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American division:
12 plants of TMK IPSCO;
OFS International LLC.
European division:
TMK-ARTROM;
TMK-RESITA.
Middle East Division:
TMK GIPI (Oman);
Threading & Mechanical Key Premium LLC (Abu-Dhabi).
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