Globaltrans’ Russian subsidiary successfully priced RUR denominated bonds, book is 2.7 times oversubscribed, bonds priced below initial price guidance


Globaltrans Investment PLC (“the Company” or together with its consolidated subsidiaries “Globaltrans” or “the Group”) (LSE ticker: GLTR) today announces that its Russian subsidiary OJSC New Forwarding Company (“NPK”) has successfully priced5-year Russian rouble denominated bonds (the “Bond issue”) for a total amount of RUR 3 billion (approx. USD 98 million) at a coupon rate of 9.25% per annum (settlement on MICEX is scheduled for July 16, 2010).

The Bond is amortizable and its structure includes a call option in 2.5 years. Globaltrans acts as the guarantor and provides surety for the Bond issue. Proceeds from the Bond issue are intended to be used to refinance debt and for general corporate purposes.The transaction was lead by VTB Capital with OTP Bank acting as the Co-arranger.


Commenting on today's announcement Sergey Maltsev, CEO of Globaltrans, said:
"We are very pleased with the success of our debut bond issue which generated an exceptionally strong demand from investors. The transaction was several times oversubscribed and priced tangibly below the initial target range which underlines strong investor confidence in Globaltrans’ credit quality. The Bond issue enables us to increase the share of Russian rouble denominated borrowings in our debt portfolio above 70%”.

Globaltrans Investor Relations
Priit Pedaja
Mikhail Perestyuk
+357 25 503 153

Globaltrans (Globaltrans Investment PLC together with its subsidiaries - "Globaltrans" or "the Group") is the largest privately owned freight rail transportation group operating in Russia by the size of owned rolling stock fleet (based on publicly available information) and the first and only such group to have an international listing.

Globaltrans Investment PLC is incorporated in Cyprus and has operating subsidiaries in Russia, Ukraine and Estonia. The Group provides freight rail transportation, railcar leasing, and certain ancillary services to more than 450 clients in Russia, the CIS countries and the Baltics.

As of the end of 2009 Group’s fleet of rolling stock owned and leased under finance and operating leases amounted to 37,217 units, including 18,846 rail tank cars, 17,821 gondola cars, 60 locomotives and 490 other railcars.

The Group’s freight rail turnover in 2009 amounted to 80.9 billion tonnes-km with 52.8 million tonnes of freight transported. In 2009 the Group’s Adjusted Revenue achieved USD 685.3 million with Adjusted EBITDA in amount of USD 284.5 million.

Globaltrans' global depositary receipts have been listed on the Main Market of the London Stock Exchange under the ticker GLTR since May 2008.

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Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of Globaltrans. 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. Globaltrans wishes to caution you that these statements are only predictions and that actual events or results may differ materially. In addition, the information referred to in this announcement may not be up to date as at the date of this announcement. Globaltrans does 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 Globaltrans, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries Globaltrans operates in, as well as many other risks specifically related to Globaltrans and its operations. This press release is not an offer of securities for sale in the United States. The Bonds have not been registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. Globaltrans does not intend to conduct a public offering of any securities in the United States.