OREANDA-NEWS. On 11 June 2008 OMZ OJSC announced that it issued its Series 6 bond on June 6 for RUR1.6 billion nominal value.

During the auction setting the first coupon rate, 63 bids for a total RUR3.3 billion were registered. The range of rates at the tender was from 9.99% to 11% per annum. The rate for the first coupon was set at 10.25% per annum. Rates for the second and third coupons will be equal to the rate of the first coupon. An option of retirement of the bonds in 1.5 years is provided. Maturity date is 5 years. The coupon period is 182 days.

Gazprombank OJSC is arranger and underwriter of the bond issue.

Funds raised will be used for optimization of the company’s debt structure, modernization and expansion of OMZ production facilities in line with implementation of OMZ Group’s investment program.