OREANDA-NEWS. JSC TMK (“TMK” or “the Company”), one of the world’s leading producers of tubular products for the oil and gas industry, informs that on February 11, 2015 the Company redeemed its 5.25% Convertible Bonds due 2015 convertible into GDRs each representing four ordinary shares of TMK.

To redeem the bonds TMK used cash accumulated from operating and financial activities, including four-year USD denominated credit facility from one of the leading Russian commercial banks.

The Company currently does not plan public offering of 17,876,489 GDRs (representing 71,505,956 of TMK shares or 7.21% of the Company’s share capital) underlying the bonds and intends to keep them as treasury shares.

TMK has no more international public debt maturing before 2018.