On February 16 and 19, 2010, a buy-back option on the 5,000,000 outstanding OAO TMK series 03 interest-bearing coupon bonds took place. The new rate for the semi-annual coupons was set at 9.8%, which implied a 10.05% yield to maturity.  Investors valued the set rate to be in line with TMK’s credit quality.  As a result, holders of 1,984,018 bonds executed their put option, nevertheless demand from new investors allowed the full bonds issue to be left outstanding.

TMK, one of the world’s largest oil and gas pipe producers and the market leader of the Russian pipe industry, today announced that it has achieved agreements with VTB Bank on prolongation the maturity of its USD 450 mln. facility up to three years.

TMK, one of the world’s largest oil and gas pipe producers, today announces that it has reached a supply agreement with Surgutneftegas for 2010 deliveries.  The agreement, signed between Trade House TMK and Surgutneftegas, covers deliveries of casing, tubing, line pipe and drill pipe for an aggregate amount of 164,500 tonnes.