OREANDA-NEWS. On 11 June 2008 was announced, that in mid-May, PAVA (www.apkhleb.ru), the largest grain processor of Siberia and the Far East, performed its obligations under the offer of a bond loan. The company’s experts view its results as successful.

The grain processor bought out 110,526 bonds on request of the owners. This means that lenders and investors trust the company, they are sure that they will get their capital back in full measure. By keeping the bonds, the owners express confidence and satisfaction with the company’s financial results. They consider OJSC PAVA an effective employment of capital. Besides, a small volume of returned bonds demonstrates that the owners are pleased with the coupon yield rate – 12,5%.

To recap, OJSC PAVA issued 1 million of bonds in 2006. According to the investment memorandum, the coupon yield is paid to the bond owners on a quarterly basis.

PAVA arranged a bond loan for 5 years; thus, in 2011 the grain processing company will have to buy out the entire volume of bonds issued in 2006. The next offer will take place on May, 6 in 2009, according to the regulations.