LSR Group buys $500,000 of series BO-01 bonds on put option exercise

By Tali David

Minneapolis, Dec. 8 - LSR Group OJSC repurchased $500,000 of its series BO-01 bonds, according to a filing with the London Stock Exchange.

The company said it received 34 applications from its bondholders, totaling $516,428. It decided to buy back $500,000 bonds at the price of 100.75, fully executing 23 applications and partially executing 11.

"This put option is one of the first buyback examples on Russian debt capital market since August 2011 market collapse and one of rare examples of success in deal records, when company managed to find the accurate balance, where supply meets demand," Uralsib Capital executive director and head of fixed income Boris Ginzburg said in a release.

The real estate development and building materials company is based in St. Petersburg, Russia.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.