ITERA Finance accomplished a successful placement of Series 01 bonds totally worth Rub 5 billion with MICEX in November of 2007. ITERA Oil and Gas Company (ITERA OGC) acted as a guarantor for this issue of bonds.)
During the competition to determine the first coupon rate, investors filed 60 applications totally worth about Rub 5.2 billion. The range of the first coupon annual rate was 9.9-10.4 per cent.
The first coupon rate was established at 10.4 per cent a year. Interest rates for the second and third coupons equal the first coupon interest rate. ITERA Finance is to determine interest on coupons 4 to 10 later.
An option to buy-back from the owners in 1.5 years is envisioned. The bonds’ circulation period is five years. Duration of coupon period is 182 days. The entire issue of bonds was sold during the competition to determine the first coupon rate.
Sergey Vorobiyev, First Deputy General Director, ITERA OGC, stated: «90 per cent of monetary funds raised during the placement shall be used to finance the credit portfolio. We express our gratitude to all investors involved with the placement for their confidence in the Company and their support under the complicated conditions of an extremely volatile market.»
OAO Gazprombank acted as the issue organizer. Sberbank of the RF, IK Kapital and Rosbank acted as co-organizers. OOO FK Otkrytiye, AKB Soyuz, Bank Petrokommertz, AKB NRBank, AKB Novikombank were underwriters of the issue. FK Uralsib, OAO Promsvyazbank, ICICI bank Evrasiya, KB Yevropeyskiy Trastovy Bank, OOO RTK Broker, OAO IK Rus Invest, Bank Moskvy acted as co-underwriters.
28/11/2007
Press Service,
ITERA Oil and Gas Company
Tel.: (495) 411-8631 |
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