OREANDA-NEWS. HMS Group (LSE: HMSG), the leading pump and compressor manufacturer as well as a provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS, announces today that is has made a partial redemption of its Ruble bonds for Rub 900 mn excluding accumulated coupon interest.

The company purchased 900,000 bonds at 100% par value. Bonds buy-back was financed by an unsecured non-revolving credit line up to 3 years, lent by Raiffeisenbank at the end of this August. The bank also acted as a purchase agent.

Rub 3 bn bonds, with a 10.75% coupon rate, were issued in February 2012 and mature in February 2015.

Mr. Kirill Molchanov, the co-founder and CFO of HMS Group, commented:

“Credit portfolio management is one of HMS' top-priority tasks. We use various financial instruments, which allow securing a more comfortable debt repayment schedule and prolongation of our credit portfolio along with borrowing costs optimization. Apart from the above Rub 900 mn loan, we obtained two unsecured 3-year credits from Raiffeisenbank and UniCredit Bank - Rub 981 mn in May 2014 and Rub 750 mn in June 2014, correspondingly - which were also utilized for refinancing of our current bank indebtedness”.