On 10 June 2008, the Board of Directors of OJSC LSR Group approved a transaction aimed at raising funds by means of entering into a loan agreement between OJSC LSR Group and LSR Finance Limited, an issuer company established for the sole purpose of raising funds for LSR Group through issuing and placing Eurobonds in international capital markets. A number of subsidiaries of LSR Group are to act as guarantors of the transaction.
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