Russia's Magnit to place RUB 5.5 billion of exchange-traded bonds in four series on Monday

By Jennifer Chiou

New York, Sept. 7 - OJSC Magnit announced that Monday will be the initiation of its RUB 5.5 billion total placement of non-convertible interest-bearing certified exchange-traded bonds, series BO-01, BO-02, BO-03 and BO-04.

The transaction was approved in December 2009.

The three-year bonds will be sold at par. Other terms are yet to be determined.

Magnit plans to issue RUB 1 billion each of the first two series of bonds as well as RUB 1.5 billion in the third series and RUB 2 billion in the fourth series.

In other news, the company's chief executive officer said that as of Feb. 2, 2010, there will be no early redemption for four series of bonds with the following identification codes: 4B02-01-60525-P / 4B02-02-60525-P / 4B02-03-60525-P / 4B02-04-60525-P.

Questions may be directed to Oleg Goncharov (Goncharov@gw.tander.ru or 7 861 277-45-54, 210-98-10 ext. 5100).

Based in Krasnodar, in the Southern region of Russia, Magnit is the holding company for retail trades under the eponymous brand. The chain of Magnit stores is one of the leading food retail networks in Russia.

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