Seventh Continent Placed Bond Issue Totaling 5.8 mln Items
OREANDA-NEWS. On 02 July 2009 was announced, that JSC "The Seventh Continent" (hereafter referred to as "the Company") had placed non-convertible interest-bearing bonds "Series CP-01" in amount of 5.8 mln. items. Identification number of the Commercial papers is 4В02-01-00462-Н.
The first coupon was set at 15.5% per annum. The Commercial papers were placed on MICEX.
The terms and conditions of bond issue Series CP-01 are:
The total nominal value is 5,800,000,000 RUB;
The maturity is 2 years;
• The coupon is paid quarterly;
The conditions of the Commercial Paper issue provide principal debt amortization of 20% of par value during the 364th, 455th, 546th, 637th and 728th days from date of placement.
Pre-emption right on Commercial papers is not provided.
The new Commercial Paper will be issued in order to execute a 100% put option on the Company's bonds on 23 June 2009 (02 series, registration number 4-02-00462-H, dated 26/12/2006, total par value RUB 7.0 bln).
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