OREANDA-NEWS. February 19, 2008. A tender for the placement of five-year bonds of Dalur-Finance Ltd worth a total of 520,000,000 RUR was conducted on Feb 12 2008 under guarantees of Dalur CJSC. The demand was almost 1.5 times bigger than the offer. 21 bids worth 814,900,000 RUR were made during the tender. The interest rate of the first coupon was set by the emitter at 12.95% (64.57 RUR per bond).

The terms of the issue stipulate that the bonds can be redeemed early of time in one year at nominal price.

The organizer of the issue is Russian Funds.

The underwriters are EUROFINANCE MOSNARBANK IJSC, Lanta Bank CJSC, RUSNARBANK CJSC, Aiaks-Capital Ltd, OEMK-Invest CJSC.

“It was a unique tender as it was the first public placement of the bonds of a Russian uranium mining company and the first public placement of the bonds of a nuclear company after the formation of Atomenergoprom state holding,” the director general of Atomredmetzoloto OJSC Vadim Zhivov said after the tender. He said that the high interest of investors in the uranium mining sector inspired hope for its effective development.

The emitter of bonds is Dalur-Finance Ltd, 100% subsidiary of Dalur CJSC, the second biggest uranium miner in Russia. Dalur-Finance Ltd was set up in June 2007 for carrying out the above placement.

Dalur CJSC is subsidiary of TVEL Corporation. 98% of its shares are managed by Atomredmetzoloto OJSC.

Atomredmetzoloto OJSC operates all Russian uranium mining assets and is carrying out a number of projects abroad. Atomredmetzoloto and TVEL are 100% subsidiaries of Atomenergoprom, which is part of Rosatom State Nuclear Energy Corporation.