OREANDA-NEWS. February 17, 2014. OJSC LSR Group (LSE: LSRG; MICEX-RTS: LSRG), one of the leading real estate developers and building materials producers in Russia, completed buy-back of its Series BO-03, BO-05 and Series-04 bonds.

The total amount of transaction was RUB 1,611,987,921.04.

The bonds were bought back in accordance with the Public Offer as of 22 December 2013.

Identification number of Series BO-03: 4B02-03-55234-E as of 16.02.2011.

The total amount of certificated interest-bearing non-convertible bearer bonds with mandatory safekeeping submitted was 186,116. The total amount of transaction was RUB 193,255,299.04 including the accrued interest.

Identification number of Series BO-05: 4B02-05-55234-E as of 16.02.2011.

The total amount of certificated interest-bearing non-convertible bearer bonds with mandatory safekeeping submitted was 683,576. The total amount of transaction was RUB 685,797,622 including the accrued interest.

Registration number of Series-04: 4-04-55234-E от 02.11.2011.

The total amount of certificated interest-bearing non-convertible bearer bonds with mandatory safekeeping submitted was 700,000. The total amount of transaction was RUB 732,935,000 including the accrued interest.

Broker: URALSIB Capital.

Dmitry Kutuzov, Chief Financial Officer of LSR Group, comments:

"High sales volume in 2013 increased cash flow generation and allowed us to accelerate company’s debt reduction. In 2013 we paid back our bondholders around RUB 8 billion, and we will proceed with further debt portfolio optimization. As a result, as of year-end 2013 company’s net debt amounted to less than RUB 30 billion. Detailed data on our debt position will be disclosed on March 19 together with Full Year 2013 financial results (IRFS)."