OREANDA-NEWS. June 5, 2012. UTair Aviation affiliate UTair-Finance has issued bonds totaling 2.5 billion rubles. The loan was led by BK Region.

BO-8 bonds were issued with a 1.5 year offer and a coupon level of 10% per annum ; BO-16 bonds were issued with a 1 year offer and a coupon level 0f 8.71% per annum .

Maturity of the bond issue was set at 3 years without interim offer, with the coupon period at 91 days.

UTair-Finance registered claims for 22 investors, among them commercial banks, investment and management companies.

Funds from the bond issue will be used to refinance current debt as well as to pay deposits on aircraft leasing deals that fall within the UTair Aviation fleet expansion program.

UTair-Finance  is a wholly owned UTair Aviation affiliate tasked with developing and managing the airline’s investment program.  UTair Aviation served as the underwriter for the loans.