OREANDA-NEWS. On 16 July 2013 Standard & Poor’s (“S&P”) reclassified the equity content of the USD 1 billion fixed-rate perpetual subordinated loan participation notes (the “Notes”) (ISIN: XS0848137708) that Gazprombank issued in October 2012 to “minimal” from “intermediate”, following publication of “Assigning ‘Intermediate’ Equity Content To “Tier 2” Bank Hybrid Capital Instruments” on 16 July 2013.

Under the Notes, the reclassification of equity content constitutes a Rating Event that triggers Gazprombank’s right to redeem the Notes at the principal amount in whole, but not in part, on the interest payment date falling on 25 October 2013, subject to prior consent of the Central Bank of Russia.

Hereby Gazprombank informs that it has decided not to exercise its right to redeem the Notes on 25 October 2013.