OREANDA-NEWS. Far-Eastern Shipping Company plc (“FESCO”, and together with its consolidated subsidiaries, the “Group”), one of the leading transportation and logistics companies in Russia with operations in the ports, rail, integrated logistics and shipping businesses, announces that its indirect wholly owned subsidiary Far East Capital Limited S.A. has successfully priced USD 800 million of senior secured notes placed in two tranches.

USD 500m of notes due 2018 were priced at a yield of 8.00%, and USD 300m of notes due 2020 were priced at a yield of 8.75%. The notes will be guaranteed on a senior secured basis by certain subsidiaries and parent companies of FESCO. Net proceeds will be used to repay outstanding debt of the Group and debt incurred in connection with the acquisition of FESCO in December 2012.

Yuriy Gilts, President of FESCO, commented:

“This was our debut notes issuance on the international debt capital markets and we are pleased with the results. We saw a solid demand from high quality international investors. Following the refinancing of a certain portion of outstanding debt with proceeds from the Notes, FESCO will have a solid and efficient capital structure helping us to realize strategic goals and grow the business further.”