Belon Group Redeems First Issue of Bonds
OREANDA-NEWS. June 04, 2009. Despite the objective challenges caused by the difficulty of attracting funds in the Russian money market, Belon Group fulfills its liabilities to investors fully and timely.
On June 3, 2009, in accordance with the issue prospectus, OOO Belon-Finance, the affiliate of OAO Belon, fully discharged its obligations in the part of bonds redemption and payment of the coupon yield under the bonds of series 01 state registration number 4–01–36138-R.
The total number of bonds for which payment was executed amounted to 1,500,000.
The par value of one bond is 1,000 rubles.
The annual interest rate for the coupon yield totaled 9.1 %. The coupon yield per one bond is 45.38 rubles.
As a result, the total payments to bond holders amounted to 1,568,070,000 rubles.
These funds have been paid in RUB non-cash.
Successful fulfillment of bond obligations has become possible due to achievement of agreement by the management of Belon Group with a Russian bank to make a targeted loan to redeem bonds and to pay the coupon yield.
Thus, having fully redeemed the bonds of the given issue, OAO Belon reconfirmed its financial sustainability and its status as a responsible and reliable borrower. In the opinion of the Group’s management, bond redemption will be duly appreciated by the investment community as confirmation of the Company’s high level of goodwill.
Комментарии