X5 Undertakes Technical Steps to Redeem Outstanding Karusel Bonds
18 Sep 2009
Amsterdam, 18 September 2009 - X5 Retail Group N.V., Russia's largest retailer in terms of sales (LSE ticker: “FIVE”), today announced that Karusel Finance, a fully controlled subsidiary of X5, has made technical steps to redeem its bond issue series 01*. Pursuant to the put option exercise in 2008, X5's fully controlled subsidiaries purchased from the market 2,987,393 of the 3,000,000 bonds originally issued. On the second put option exercise date of 17 September 2009, Karusel Finance made the legal transfer of these bonds from the other X5 entities and also purchased an additional 12,228 bonds from external bond holders. As a result, to date Karusel Finance has accumulated 2,999,621 bonds (of the total issue size of 3,000,000 bonds).
For reference:
* Non-convertible interest-bearing RUR-denominated corporate bond issue series 01. Par value of the issue is RUR 3 bln - 3,000,000 bonds at RUR 1,000 par each. X5 acquired this debt within the scope of Karusel hypermarket chain acquisition in June 2008.
Forward-looking statements:
This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the fact that they do not only relate to historical or current events. Forward-looking statements often use words such as" anticipate", "target", "expect", "estimate", "intend", "expected", "plan", "goal" believe", or other words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, a number of which are beyond X5 Retail Group N.V.'s control. As a result, actual future results may differ materially from the plans, goals and expectations set out in these forward-looking statements. Any forward-looking statements made by or on behalf of X5 Retail Group N.V. speak only as at the date of this announcement. Save as required by any applicable laws or regulations, X5 Retail Group N.V. undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this document that may occur due to any change in its expectations or to reflect events or circumstances after the date of this document.
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