TMK, a leading global producer of steel pipes for the oil and gas sector, today announced that it carried out the repayment of its Series 02 Rouble bond issue of RUB 3 billion and proceeded to its eight coupon payment of RUB 113,700,000.

The aggregate amount paid out was RUB 3,113,700.  The coupon payment per note amounted to Rub 37.90.  The repayment of the bond was financed through a VTB loan.

The TMK Series 02 bond offering was placed on March 29, 2005 for a period of 1456 days.

“Despite the current global financial environment TMK continues to effectively refinance short-term debt and improve its maturity profile. We are very pleased to have such a long-term relationship with VTB which helps us to successfully manage our current debt position”, said Alexander Shiryaev, TMK CEO.