4 Aug, 2009 an extraordinary general meeting of shareholders of OAO TMK, which was approved by the transaction, of which there is interest, said the company.
This is a transaction between TMK and VTB for a loan of $ 450 million for one year with possibility of prolongation until 2014. In this case $ 401 million will be directed to the redemption of the LPN, which would be implemented within the framework of a partial refinancing of Eurobonds.
This bond issuance volume of $ 600 million to yield 10% per annum and the maturity of 3 years was posted in July 2008.
In July 2009, TMK has made a public offer to holders of Eurobonds second issue of the partial buy-back and change related to the issuance of Covenant relating to attract funding by TMK. Total voting attended 5 342 of bonds (89% of total issuance) of which 4 133 bond holders had agreed to sell them, and 1 209 holders of the bonds took part in the vote. Applications for participation in the voting ended on July 31. Eurobond holders, which was unanimously voted in favor of the proposed changes TMK. August 4, the results of the vote were approved by the decision of meeting of bondholders.
TMK shareholders approved the involvement of $ 450 million loan from VTB
4 Aug, 2009 an extraordinary general meeting of shareholders of OAO TMK, which was approved by the transaction, of which there is interest, said the company.
This is a transaction between TMK and VTB for a loan of $ 450 million for one year with possibility of prolongation until 2014. In this case $ 401 million will be directed to the redemption of the LPN, which would be implemented within the framework of a partial refinancing of Eurobonds.
This bond issuance volume of $ 600 million to yield 10% per annum and the maturity of 3 years was posted in July 2008.
In July 2009, TMK has made a public offer to holders of Eurobonds second issue of the partial buy-back and change related to the issuance of Covenant relating to attract funding by TMK. Total voting attended 5 342 of bonds (89% of total issuance) of which 4 133 bond holders had agreed to sell them, and 1 209 holders of the bonds took part in the vote. Applications for participation in the voting ended on July 31. Eurobond holders, which was unanimously voted in favor of the proposed changes TMK. August 4, the results of the vote were approved by the decision of meeting of bondholders.
In accordance with the terms of public offer and the results of collecting bids for the sale of TMK will pay the bond holders about $ 401 million, the calculations will be held on 20 August 2009.
Shallow nature of price adjustment to the black gold suggests that traders do not consider oil market perekuplennym
Futures Brent oil class on FORTS is currently trading near highs
Continued decline expected in the oil and gas sector, and among the shareholders of ferrous metallurgy
The objectives of futures on RTS index when it is falling - 85 000 items
Statistics on the U.S. labor market may be crucial to the dynamics of the Russian market at the end of the week
During the session, the paper VTB will continue to consolidate in the short ascending channel
Fund Finam Nizkolikvidnye action opens the regular interval
In the 1 half of 2009, the enterprise division of Severstal Russian Steel construction companies put more than 840 thousand tons of steel products
Review of the FOREX market for 06.08.09