Cherkizovo Group entirely places BO-03 bonds worth 3 bln rubles
OJSC Cherkizovo Group (RTS: GCHE) entirely placed exchange bond issue BO-03 worth 3 billion rubles on Friday, the company said in a statement.
The rate for the exchange bonds' first coupon was set at 8.25% during auction at placement. The coupon rate has been set for the entire three-year maturation period.
The coupon guidance came to 8%-8.5%, which equals a yield against maturation of 8.16%-8.68%. The three-year bonds have a face value of 1,000 rubles each and semiannual coupon payments. The bonds do not include an offer for preterm buyback.
Zenit Bank (RTS: ZENT) was the placement organizer.
The group decided to place exchange bond issues BO-1, BO-02 and BO-3 worth a combined 5 billion rubles in December 2009. The bonds were registered with the MICEX on December 30, 2009.
The Cherkizovo group unites seven meat-processing plants in the Moscow, Penza, Ulyanovsk, and Rostov regions and the Krasnodar territory, four hog complexes, two poultry complexes, and a compound-feed plant. The company is controlled by Igor Babayev and members of his family. It raised $251 million with an IPO on the London Stock Exchange in May of 2006.
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