Transkapitalbank tenders for $20 million of 10% notes due 2020

New York, June 20 – Transkapitalbank announced a tender offer for up to $20 million of the $64,026,000 of outstanding 10% loan participation notes due 2020 issued by Transregionalcapital DAC, according to a notice.

The purchase price will be set using a modified Dutch auction with a minimum price of $500 per $1,000 principal amount and a maximum of $700 per $1,000.

Holders are invited to submit offers to sell and Transkapitalbank will accept tenders at a single price that allows it to purchase the targeted amount.

The issuer will also pay accrued interest.

Expiration for the tender was set at 11 a.m. ET on July 3. Settlement is planned for July 6.

Transkapitalbank said that it is carrying out the tender in order to reduce the cost of its debt. It will use available cash to fund the tender.

Citigroup Global Markets Ltd. (+44 20 7986 8969 or liabilitymanagement.europe@citi.com) is dealer manager, and Citibank, NA (citiexchanges@citi.com or +44 20 7508 3867) is tender agent.

Transkapitalbank previously carried out a tender for the notes in May in which it purchased $23,849,000 of the original $100 million principal amount at a price of $500 per $1,000.

Between May 15 and May 31 it acquired a further $12,125,000 of the notes in privately negotiated transactions.

Transkapitalbank is a Moscow-based bank.

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