OREANDA-NEWS. On 06 May 2008 was announced,  CJSC “Centravis Production Ukraine” (a part of international holding CENTRAVIS, production of seamless stainless steel tubes and pipes) issued interest-bearing bonds for 150 mln hrn (in the amount of 150,000 units, each with a par value of 1000 hrn).

The goal of emission — investments into modernization of manufacturing facilities of CJSC “CENTRAVIS PRODUCTION UKRAINE”, working assets recharge, and also purchase of tube billets.

Start of bond placement is 25 April 2008 with interest rate of 12,75% p.a. An underwriter and a paying agent of the issue is Joint Stock Innovation Bank “UkrSibbank”.

Initial bond placement is conducted both on stock exchange “PERSPECTIVE” and over-the-counter market.

Bond turnover is done through securities accounts of holders and depositaries. Beginning of repayment on bonds is April 2011.

National rating agency “Credit-Rating” on 13 March 2008 assigned an investment rating uaA-stable to the emission, which is the evidence of a high credit worthiness of issuer comparing to other Ukrainian borrowers or debt instruments. Level of credit worthiness means sensitivity to impact of unfavourable commercial, financial and economic conditions.

Yuriy Atanasov, CEO of CENTRAVIS holding:

“Issue of bonds of CJSC “CENTRAVIS PRODUCTION UKRAINE” is the first experience of our company on the market of securities and also one of important instruments of realization of the strategic plan of the holding. According to the plan of development till the end of 2010 we aim at extending twofold manufacturing facilities of the company. For this purpose approximately \\$120 mln USD will be invested into modernization of production basis of CJSC “CENTRAVIS PRODUCTION UKRAINE”.”