The first issue of bonds by "Stroimontage Corporation" Ltd worth 1.2 billion Rubles placed in full volume
On June 18, 2008 the first bond issue of "Stroimontage Corporation" Ltd amounting to 1.2 billion Rubles was completed.
The bond floatation took place at the Stock Exchange of the MMVB by public subscription in the form of a contest determining the rate of the first bond coupon. In the course of the contest 14 applications were filed by investors with their bids for the rate of the first coupon in the range from 14.50% to 15.00% annual rate.
The rate of the first coupon set by the Issuer was 15% annual rate (74 Rubles 79 kopecks per each bond), the rate of the second coupon is equal to the rate of the first coupon. The effective bond-equivalent yield to the annual offer was 15.56 % annual rate. The loan was floated in full volume on the first day of placement.
The bond issue was organized by OJSC Bank ZENIT. The technical underwriter and payments agent of the issue is OJSC Bank ZENIT. The syndicate for placing the bonded debt of "Stroimontage Corporation" Ltd included:
- The co-organizer - JS Company ACB "Svyaz'-Bank";
- The underwriters of the issue - OJSC "MOSCOW CREDIT BANK", Closed JSC DC "Adekta";
- Co-underwriters of the issue - OJSC "Lipetskcombank", OJSC "Promsvyazbank", OJSC "MEZHTOPENERGOBANK".
The issue by "Stroimontage Corporation" Ltd of irredeemable documentary bonds with rated interest payable to bearer, series 01, was registered by the Federal Financial Markets Service on June 22, 2007, state registration number - 4-01-36273-R.
In accordance with the emission documents, the nominal amount of the loan is 1.2 billion Rubles, the term of circulation - 3 years. The bonds have six half-year coupons. The rates of the third-sixth coupons shall be determined by the Issuer's decision. The offer on the bonds of this issue shall be met on June 23, 2009.
More details on the emission documents of the first bond issue of "Stroimontage Corporation" Ltd can be found on the server of Bank ZENITH, at the address: http://www.zenit.ru and on the web page in the Internet used by "Stroimontage Corporation" Ltd for information disclosure at the address: http://www.stroimontage.ru.
INFORMATION:
"Stroimontage Corporation" Ltd is the head company in the Russian segment of the Stroimontage Group, established to function as developer in the elite and comfort class projects in Saint-Petersburg. The loan warrantor is "Stroimontage" Closed Joint-stock company, the chief operating company in the Group fulfilling the functions of the customer / developer / general contractor in the projects of the Stroimontage Group.
Since 1994, the Corporation has completed 44 projects with the floor area of 673.2 thousand sq. m, including 34 projects as the customer/developer and 10 projects - as the investor and realtor. In 2007 the volume of sold residential space was 104.5 thousand sq. m, the value of the signed contracts was $269.4 million, which was 61% bigger than in 2006. The amount of actual proceeds from sales in 2007 was $263.2 million.
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