OREANDA-NEWS. On 07 May 2009 was announced, that JSC "The Seventh Continent" (further referred to as the Company) and MDM Bank, which was appointed as agent on restructuring, announce basic restructuring terms of obligations under bonds "series 02".

The Company offers to its bondholders on 23 June 2009 (date of put option) an exchange of bonds "series 02" (the state number of issue 4-02-00462-Н, registered by the Federal Financial Markets Service of the Russian Federation on 26 December 2006, total par value of RUB 7.0 billion) for new bond issue with 20% of par value bond redemption series 02 simultaneously. The Company is now preparing new securities issue.

The new securities maturity is 2 years, the coupon is paid quarterly. The issue of those papers considers principal debt amortization by equal shares 20% par value, starting with 4th coupon period. New paper yield to maturity is 17%.