OREANDA-NEWS. On February 20, 2007 in Moscow, hotel Ararat Park Hyatt will host the presentation of the debut bonded loan of OJSC “Uralelectromed” (enterprise of the UMMC metallurgical complex).

According to the UMMC press-service, it is supposed that attraction of money resources through the placement of the bonded loan first of all will allow OJSC “Uralelectromed” to replace a part of credits of the Russian banks attracted in foreign currency and under rather high rate of loan. The placement of the bonded loan will cause change of structure of a credit portfolio regarding sources, terms and currency of loan that will allow essentially reducing cost of the loan and currency risks.

The issuer also plans to direct a part of money resources received from the placement of bonds on financing of a working capital and realization of investment projects.

It is expected that more than 50 representatives of the banks, investment companies, insurance companies, investment and pension funds will attend the presentation of a bonded loan of OJSC “Uralelectromed”.

In December 2006, the Board of directors of OJSC “Uralelectromed” has made a decision on issuance of five-year bonds worth 3 billion roubles; in the end of January of this year the Federal Financial Market Service of the Russian Federation registered the issue. Date of repayment of bonds is the 1820th day from the date of the placement. Payment of the income will be carried out once in half a year.

It is planned to carry out the placement of a debut bonded loan of OJSC “Uralelectromed” till the end of the first quarter 2007. Gazprombank acts as the organizer of the issue. The guarantor under bonds will be JSC “JV “Katur-Invest” (enterprise of the UMMC processing complex).