REG - TCS Grp Hldg PLC - Redemption of last tranche of USD 250 m Eurobond <Origin Href="QuoteRef">TCSq.L</Origin>

TCS HoldingAnnouncement

23/09/2015 13:50

RNS Number : 9765Z
TCS Group Holding PLC
23 September 2015
Tinkoff Group redeems last tranche of USD250m Eurobond 
Moscow, Russia - 23 September 2015. TCSGroupHoldingPLC (TCSLI), Russia's leading provider of online retail financial services, including Tinkoff Bank and Tinkoff Insurance (the"Group"), today announces that the Group has duly redeemed the last tranche of its USD250m Eurobond. The debt was repaid on18September 2015, which was announced via a regulatory service of the Irish Stock Exchange.
The 10.75%Eurobond due in September2015 (XS0830191234) was issued and listed on the Irish Stock Exchange by TCSFinance Limited in September2012. 
On 23March2015, the Group announced a tender offer to buy back up to USD125m of the nominal value of the offering ahead of maturity at102.5% of par value. As a result, bonds for an aggregate nominal amount of USD80.09m (32% of the total offering) were bought back. 
In summer2015, the Group bought back an additional USD66.48m in nominal value of the bonds. 
Sergey Pirogov, Head of Corporate Finance of Tinkoff Bank, commented: "We are pleased to have fulfilled our obligations to our creditors. Tinkoff Bank's strong liquidity position allowed us to complete Eurobond buybacks in2015, decreasing the impact of the Q32015 bullet repayment and more evenly distributing expenses through the year, while maintaining a sufficient liquidity cushion. We were also pleased to see strong investor interest in the Group's debt even in volatile market conditions."
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For enquiries:
Tinkoff Bank
Darya Ermolina
Head of PR
+ 7 495 648-10-00 (ext. 2009)
d.ermolina@tinkoff.ru
Tinkoff Bank
Larisa Chernysheva
IR Department
+ 7 495 648-10-00 (ext. 2312)
ir@tinkoff.ru
FTI Consulting London
Elena Kalinskaya
+44 (0) 020 3727 1279
FTI Consulting Moscow
Maria Shiryaevskaya
+7 495 795-06-23
About the Group
TCS Group Holding PLC is an innovative provider of online retail financial services operating in Russia through a high-tech branchless platform. In order to support its branchless platform, the Group has also developed a "smart courier" network covering almost 600 cities and towns in Russia which allows next day delivery to many customers. 
Since its launch in 2007 by Mr Oleg Tinkov, a renowned Russian entrepreneur with a long track record of creating successful businesses, the Group has grown into a leader in the Russian credit card market. As of 1 August 2015, the Group has issued over 5.2 mln credit cards.
In addition to a market-leading credit card offering, the Group has developed a successful online retail deposits programme. The Group's other innovative lines of business include Tinkoff Insurance, which enables the Group to underwrite and sell its own innovative online insurance products. 
As of 30 June 2015, the Group's total assets amounted to RUB 122.2 bn, net loans and advances to customers stood at RUB 75.6 bn and customer accounts (deposits) amounted to RUB 71.7 bn. In 2Q15, the Group generated a net profit of RUB 0.4 bn and net interest income of RUB 6.4 bn. As of 30 June 2015, the Group is well capitalised with the total capital ratio and Tier 1 capital ratio of 19.6% and 15.0%, respectively, in accordance with Basel III methodology.
Forward-looking statements
Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of the Group and Tinkoff Bank. You can identify forward looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could," "may" or "might", the negative of such terms or other similar expressions. The Group and Tinkoff Bank wish to caution you that these statements are only predictions and that actual events or results may differ materially. The Group and Tinkoff Bank do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of the Group and Tinkoff Bank, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries the Group operates in, as well as many other risks specifically related to the Group, Tinkoff Bank and their respective operations.

This information is provided by RNS
The company news service from the London Stock Exchange
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