REG - TCS Grp Hldg PLC - Tinkoff Bank Bond Buy-Back <Origin Href="QuoteRef">TCSq.L</Origin>

TCS HoldingAnnouncement

16/07/2015 13:43

RNS Number : 8968R
TCS Group Holding PLC
01 July 2015
Tinkoff Bank Bond Buy-Back 
Moscow, Russia - 1 July 2015. TCS Group Holding PLC (TCS LI) (the Group), Russia's leading provider ofonline retail financial services, including Tinkoff Bank (the "Company") and Tinkoff Insurance, today announces that Tinkoff Bank bought back US$48,021,000 in aggregate nominal amount of the US$169,910,000 10.75% loan participation notes due September 2015 issued by TCS Finance Limited (the "Issuer"). The trade has been made at market terms. Notes so acquired, together with the Notes already owned by the Company, amount to in aggregate 38.5% of the Notes currently outstanding. 
The Company may transfer any Notes purchased to the Issuer, which will then prepay and cancel the Notes in accordance with the relevant terms and condition thereof.In case the Company transfers any Notes purchased to the Issuer, the Company will make an announcement of it.
The Company or any of its subsidiaries may, from time to time, undertake any additional purchases of the Notes as it may decide in its absolute discretion depending on the market conditions prevailing at that time and in accordance with the terms and conditions of the Notes.

This announcement is not, and is not intended to be, an offer to purchase Notes or a solicitation of offers to sell Notes. Furthermore, this announcement is not an invitation nor is it intended to be an inducement to engage in investment activity for the purpose of Section 21 of the Financial Services and Markets Act 2000 (as amended).
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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
Maria Shiryaevskaya
+44 (0) 20 3727 1677
FTI Consulting Moscow
Olga Lundquist
+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  2015, the Group has issued over 5 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 Online Insurance, which enables the Group to underwrite and sell its own innovative online insurance products, and Tinkoff Mobile Wallet, mobile payment solutions and financial services for Russian consumers. 
As of 31 December 2014, the Group's total assets amounted to RUB 108.8 bn, net loans and advances to customers stood at RUB 74.6 bn and customer accounts (deposits) amounted to RUB 43.4 bn. In 2014, the Group generated a net profit of RUB 3.4 bn and net interest income of RUB 30.8 bn. 
The Group is well capitalised with the total capital ratio and Tier 1 capital ratio of 20.2% and 14.8% at 31 March 2015, 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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