TMK, one of the world’s leading producers of tubular products for the oil and gas industry, announces full redemption of the loan participation notes due in January 2018 (ISIN: XS0585211591) in the total nominal value of US$ 231 million on January 29, 2018.
The US$500-million eurobonds with a coupon rate of 7.75% and a 7-year maturity were issued by TMK Capital SA on January 27, 2011 to finance a loan to PAO TMK. Part of the issue in the amount of US$269 million was repurchased earlier under tender offers and cancelled.
On the date of the announcement, TMK has outstanding eurobonds due in April 2020 in the total amount of $500 million with a coupon rate of 6.75% and a 7-year maturity.
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