UTair-Finance Bonds Listed Blue-Chip A1 on Russian Stock Exchange
OREANDA-NEWS. September 24, 2012. 2 UTair-Finance BO-08 and BO-15 documentary interest-bearing non-convertible bonds, series December, 5, 2011, were listed A1 on the MICEX Exchange.
The ''A'' level quotation list includes securities from issuers meeting the highest level of requirements of the exchange, especially in the categories of liquidity, capitalization, reliability of the company and the quality of its corporate governance. Monthly trade volume for bonds in the last 3 months should exceed a minimum of 10 mln rubles.
The placement of bonds with a total nominal value of 2.5 bln rubles was made on the Russian Stock Exchange on 29 May, 2012.
The bonds mature in 3 years with a coupon period of 91 days. The BO-08 bonds were issued for 1.5 years with a coupon rate of 10%. The BO-16 bonds were issued for 1 year with a coupon rate of 8.71%. UTair Aviation is providing security for the loans and BK Region served as the manager.
The A-1 listing of UTair-Finance securities facilitates the liquidity of the securities by expanding the base of potential investors, including Russian state pension funds, management and insurance companies.
UTair-Finance is a subsidiary of UTair Aviation. UTair Finance was created in order to develop and implement investment activities the parent company. The company has an A+ credit rating according to Expert RA rating agency.
UTair Aviation ranks among the top three Russian airlines. In 2011 UTair aircraft transported 6,750,425 passengers. In January-June 2012 UTair Group serviced 40.9% more passengers than for the same period of 2011. In 2012 the airline expects an increase in transport volumes up to 10 million passengers. The airline operates more than 200 fixed wing aircraft and performs flights to 110 destinations in Russia and aboard. The airline maintains its central hub at Vnukovo International Airport in Moscow, from which it performs 100 flights daily.
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