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22.03.07

Raiffeisenbank acted as the arranger of the second issue of bonds forOAO Koks.

OAO Koks, a major producer of furnace-coke in Russia, placed the secondbond issue on Russia''s MICEX on March 22, 2007. As a result of the bidsthe first coupon rate was fixed by the issuer at 8.70% p.a. and thus thebond yield to a triennial offer amounted to 8.89% p.a.

A total of 107 investors applied for participation for a total amount of8.1 billion rubles with the total volume of demand exceeding the supplyby 1.6x. Investors quoted rates from 5.00% to 8.90% p.a. In the courseof the bids the issue was placed in full.

The issue was arranged by VTB Bank and Raiffeisenbank with VTB Bankacting as a placement agent.

The issue co-arrangers included ABN AMRO Bank, Commerzbank (Eurasia),Sviaz-Bank, SOYUZ Bank, NOMOS-Bank, Rossiyskiy Kredit Bank, ABSOLUT BANK.

The co-underwriters included Alfa-Bank, BFA, Bank Credit Suisse(Moscow), MDM-Bank, URSA Bank, BIN Bank, Evrofinance Mosnarbank, IGKapital, Bank URALSIB, Sberbank of Russia, Uniastrumbank, Credit Bank ofMoscow, Novikombank.

The bonds have a total face value of 5 billion rubles and a maturityperiod of five years with payment via semiannual coupons. At the end ofthe bids the first coupon rate was set by the issuer at 8.70% p.a., thesecond to sixth coupon rates are equal to the first coupon rate with therates of subsequent coupons to be set by the issuer. The issue includesa triennial offer for early repurchase at 100% of the face value.

The issuer plans to use the proceeds from the placement to refinance thecurrent credit portfolio and to finance investment projects.

Koks Group is vertically integrated metallurgical Holding whichincludes: one of the major producers of furnace-coke, a major exporterof commercial iron (OAO Tulachermet), 2 nickel producing plants, a majorproducer of vanadium (15% of the global market), iron-ore mining anddressing plant, a major producer of powder-metallurgy products. Atpresent Koks is concluding a purchase of a special-steel producer inSlovenia. As a result of this transaction the Group will create acomplete production chain in iron and steel industry.

Raiffeisenbank is one of the leaders in the Russian corporate bondmarket. Throughout 2001-2007 the Bank acted as an arranger andco-arranger of 107 corporate bond issues with a total face value of over327 billion rubles.

ZAO Raiffeisenbank Austria is ranked 10th in terms of assets amongRussian largest banks based on 2006 results (Interfax-CEA). At present,the Bank has 24 branches in Moscow, 5 branches in Saint Petersburg andregional branches in Yekaterinburg, Samara, Novosibirsk, Chelyabinsk,Nizhny Novgorod, Krasnodar, Krasnoyarsk and Perm. In terms of thecorporate credit portfolio Raiffeisenbank ranks 9th based on 2006results (Interfax-CEA).

ZAO Raiffeisenbank Austria is an affiliate of RaiffeisenInternazional Bank Holding AG (Raiffeisen Internazional), withsubsidiary banks and leasing companies in 16 CEE markets. The Bankserves 11.7 million customers at more than 2,775 business outlets, andalso has representative offices in Lithuania and Moldova. RaiffeisenInternational is a fully consolidated subsidiary of RaiffeisenZentralbank Osterreich AG (RZB), which owns 70 per cent of the commonstock. The remaining 30 per cent is free float; the shares are traded onthe Vienna Stock Exchange. RZB is a leading corporate and investmentbank in Austria and the central institution of the Austrian RaiffeisenBanking Group, the country''s largest banking organization.

 

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