Russian glass manufacturer Salavatsteklo has completely placed its second, RUR 1.2 billion four-year bond issue, a spokesman for Russian investment company Aton, the lead manager of the issue, said 2 …
Russian glass manufacturer Salavatsteklo has completely placed its second, RUR 1.2 billion four-year bond issue, a spokesman for Russian investment company Aton, the lead manager of the issue, said 2 November 2005. A rate of 9.28% was set for the first of the four semi-annual coupons, which corresponds to a two-year buyback offer of 9.5%. The rate of the other four coupons is to be set by the issuer. The bonds were offered publicly at par in RUR 1,000 denominations on the Moscow Interbank Currency Exchange, or MICEX. Aton said earlier that Salavatsteklo planned to use the funds raised to upgrade its production facilities. The company placed its first, RUR 750 million bond issue in March 2005. Salavatsteklo“s net profit was over RUR 650 million in 2004.