OREANDA-NEWS. On 03 July 2008 was announced, that the Board of Directors of JSC OGK-5 adopted a resolution on the placement of the company’s securities, e.g. documentary interest-bearing non-convertible bearer exchange bonds with mandatory centralized custody, Series BO-01 – BO-04, ratifying the bond ordinance and Prospectus of the company’s securities.

The four series of OGK-5’s exchange bonds to be issued in 2008 will consist of 8,000,000 (eight million) bonds, for a total value of 8,000,000,000 (eight billion) roubles.

Each series of OGK-5’s exchange bonds will be issued in the amount of 2,000,000 (two million) bonds with a par value of 1,000 (one thousand) roubles per bond and a total nominal value of 2,000,000,000 (two billion) roubles, placed by public tender offering at the price of 100 (one hundred) percent of the par value of the bonds, e.g. 1,000 (one thousand) roubles per one exchange bond. The redemption period for the exchange bonds will be the 364th (three hundred and sixty fourth) day from the first day of placement.

The information about the placement date of OGK-5’s exchange bonds will be provided in the coming days.

As it was told earlier, OGK-5 is considering the use of the most modern and effective loan tools as a priority of the company’s mid-term financial policy. Raising loans will allow the company to finance optimally the large-scale investment programme, but also to provide funds for the financing of working capital and capital costs in general.

Back on February 8, 2008, the Board of Directors of JSC OGK-5 adopted the resolution on the possibility of the placement of exchange bonds by the company in 2008. On May 22, 2008, the Board appointed GPB (OAO) and ZAO Citibank as the arrangers for the issue of the company’s exchange bonds.