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Russia's Integra buys back 94.4% of ruble bonds with loan proceeds
By Susanna Moon
Chicago, Aug. 2 - Integra Group said its subsidiary Integra Finance bought back RUB 2.49 billion, or 94.4%, of its second ruble bond issue.
The company repurchased 2,491,381 of the bonds at 110.1% of par on July 30, according to a press release.
Integra said it signed an agreement with Alfa-Bank to open an unsecured credit line of up to RUB 3 billion, of which RUB 2.81 billion was drawn to finance the bond buyback.
The maturity of the credit line is March 2012, and the interest rate is lower compared to the coupon on the bonds, the release noted.
Integra is a Moscow-based provider of onshore oilfield services and a manufacturer of drilling rigs.
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