OREANDA-NEWS. May 5, 2008. ‘Komsomolets Donbassa Mine’ OJSC (Kirovskoye, Donetsk region) will issue the registered bonds of the "А"-"Е" series to a total amount of UAH816 m.

According to the Company’s press release published by the mass media, on 25.10.2007, a decision was made by the Supervisory Board of OJSC to perform the flotation of private bonds.

The bonds with an average value of UAH 1 000 will be issued in a documentary form with an additional security.

The raised funds will be used by the Company for the replenishment of its circulating assets, in particular, capital construction, equipping of long-walls, purchase of stationary equipment (UAH600 m) and a major overhaul of buildings and constructions (UAH216 m).

The other parameters of the bond issue will be made available by the issuer later.

Komsomolets Donbassa mine produces T grade thermal coal. The mine has its own enrichment facilities which enable it to ensure a low ash content in the sold product.

According to the Accounting Standards of Ukraine (ASU), the net profit of the Company has increased 1.9 times in 2007 compared with 2006, up to UAH70.519 m.