OREANDA-NEWS. March 07, 2012. NCSP Group (LSE: NCSP; MICEX: NMTP) reports that PJSC “NCSP” Board of Directors meeting was held on 4 March 2012. The Board members approved “Decision of issue” for Ruble bond tranches B0-1, B0-2, B0-3, B0-4 and B0-5.  The Board also approved Offering circular for the Program.

“NCSP management considers reduction of leverage as one of its key tasks. We plan to achieve Net Debt to EBITDA ratio below 3.75x as of the end of 2012. The expansion of available funding instruments will help the Company achieve this goal by way of optimization of its credit portfolio,” - Deputy CEO for finance and economy Andrei Bubnov commented.

The par value of the ruble bond tranches B0-1, B0-2, B0-3, B0-4 and B0-5 are 5 billion rubles, 4 billion rubles, 4 billion rubles, 3 billion rubles and 2 billion rubles respectively.

“This is expected to give the company the necessary flexibility to select tranches as and when specific borrowing needs appear,” – Andrei Bubnov added.