OREANDA-NEWS. On April 29 UTair Finance fulfilled its obligations on bond series BO-06 and BO-07 on request of their owners in accordance with the original terms of public offering with an option for further bond circulation. A total of 2,594,793 bonds with a nominal value of 2,594,739,000 rubles were redeemed.

“Timely debt service is an essential part of UTair's strategy,” said UTair Aviation CFO Igor Petrov. “UTair has yet again proven its reputation as a reliable lender and a responsible partner in productive, long-term cooperation with investors”. The BO-06 and BO-07 bonds series were issued on the MICEX-RTS stock exchange on April 25, 2012.

The total nominal value of bonds issued amounts to 3 billion rubles, with a circulation period of 3 years and coupon period of 91 days. The coupon rate announced for coupon periods 9 through 12 is 12.00% annually. UTair Aviation has acted as the guarantor of the loan. The bond issue was organized by Broker Company REGION and Rossiya Bank.

UTair-Finance is a subsidiary of UTair Aviation and an active player on the debt financing market. UTair Finance was established to develop and implement investment programs for its parent company. The company has successfully carried out 18 bond issues. Ten bonds issues currently in circulation on the Moscow Exchange have a total nominal value of 14.5 billion rubles and are included on the A1 quotation list of the listing exchange. The company has an A+ credit rating reflecting its 'very high level of credit worthiness' from Russian ratings agency Expert RA.