ZAO KARAT Exercised Buy-Back Option Relating to Issue II Bonds
On January 9, 2008, ZAO KARAT executed the buy-back option relating to non-convertible interest-bearing documentary bearer bonds series 02 with mandatory centralized safekeeping (state registration number of issue 4-02-28395-Н dated November 23, 2006).
In the offering process ZAO KARAT purchased 131,302 (one hundred thirty one thousand and thirty two) bonds, or 26.26 % of the total loan. On December 14, 2007, ZAO KARAT set the interest rate for the 3rd coupon period at 15 % per annum or 74 (seventy four) rubles 79 kopecks per bond. Next exercise of the option for this issue is to take place on June 30, 2008.
This issue was distributed on December 26, 2006, on ZAO MICEX SE by open subscription. The Issuer set the coupon rate at 12 % per annum for the first year of bond life.
OAO Bank ZENIT was arranger and underwriter of the bond issue.
Issuance documents relating to ZAO KARAT's bond issue II are accessible at www.karatsc.ru and www.zenit.ru.
Company Profile:
With four dairy producers as its members, the company group KARAT is one of Russia's largest producers of processed cheese, cottage cheese and hard cheese. ZAO KARAT's product line is oriented on the fast moving consumer goods market. ZAP KARAT's main products are processed cheese, sausage processed cheese, butter, Domashny (cottage) cheese, cream cheese products, sour cream, butter, julienne, fondue, preserves and sauces. ZAO KARAT's financial performance January through September of 2007:
Sales: 2 019m rubles.
EBITDA: 109m rubles.
Sales profit: 141m rubles.
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