OREANDA-NEWS. On February 26, 2008  “Agromat” LTD pursued the successful allocation of its С series bonds, reported the press-centre of UkrSibbank.

The issue was organized by JSCIB “UkrSibbank”.

The common yield of C series bonds allocation by “Agromat” LTD amounts to 13,5% per annum.

Allocation yield was set by the Issuer based on the bids to have been submitted by the investors.

The bonds will be put into circulation after the bonds allocation report has been registered with the State Committee for Stock Market and Securities and the issue registration certificate is rendered. С series bonds will be redeemed on February 15, 2011.

Currently the first issue of bonds by “Agromat” LTD to amount to UAH 100 mln is in circulation. The issue was allocated in 2007 to feature the oversubscription by more than 2,7 times.

Basic issue parameters:
Issue volume: UAH 100 000 000.00, two series;

Closed (private) allocation;

С series – UAH 50 000 000.00;

Circulation period of С series will commence after the bonds allocation report has been registered with the State Committee for Stock Market and Securities and the issue registration certificate is rendered, and up to February 15, 2011;

D series – UAH 50 000 000.00;

D series allocation is to commence on August 19, 2008.

Circulation period of D series will commence after the bonds allocation report has been registered with the State Committee for Stock Market and Securities and the issue registration certificate is rendered, and up to August 16, 2011;

Nominal value per bond: UAH 1000;

Interest income for the first to the fourth interest periods on both series: 13.5% per annum in UAH, interest rate for the rest of the periods is to be set by the Issuer, but may not be less than 3% per annum in UAH;

Interest period: 91 days;

Early sale of bonds: possible upon termination of the 4th and the 8th interest periods of the bonds of the appropriate series;

Depositary: OJSC “MFS”;

Issue organizer: JSCIB “UkrSibbank”;

Paying agent: JSCIB “UkrSibbank”.

JSCIB “UkrSibbank” undertakes to maintain the liquidity of the secondary market of the Issuer’s corporate bonds by making daily quotations in the First Stock Trading System.

Reference:
“Agromat” LTD is Ukraine’s major wholesale trader of sanitary ware items and ceramic tiles. Major part of the commodities is traded as wholesale (up to 90%), the rest is traded as retail via the related companies and subsidiaries: “Service” Subsidiary and “Agromat-Centre” LTD. “Service” Subsidiary is selling via the trade centers to be both owned and leased by the parent company: “Svit Keramiki” and “Svit santekhniki”. As of the end of 2007, net income of the entity made up UAH 516,6 mln., which is 44% above the yield of 2006. The entity’s cost efficiency and solvency enjoy the high-profile values. The gross cost efficiency as of the end of 2007 totaled 36,1%, while the EBITDA cost efficiency - 23%. At the same time, the debt load index is quite low. The Net Debt to EBITDA ratio is 1,2. EBITDA solvency index/Financial expenses ratio equals to 5,5, which is a very good index.