Tyumen Oil Company withdraws Eurobonds

Tyumen Oil Company (TNK) is withdrawing its Eurobonds totaling $500m due to a technical mistake in the company's auditing report, which was made by PricewaterhouseCoopers. A new report of TNK International is to be ready in two weeks, the company announced. PricewaterhouseCoopers pointed out that the changes would be of a technical character only, so there are no reasons to suspect any fraud. TNK started the Eurobond issue totaling $500m on May 15, 2002. The maturity date was planned for May 23, 2007. Credit Suisse First Boston and Schroder Salomon Smith Barney are the lead managers for the issue.

Visit to &to=http://www.tnk.ru/mainpage_eng.asp?IDR=162&LANG=ENG' target=_blank>TNK

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