OREANDA-NEWS  On 09 June was announced, that Cherkizovo Group OJSC (LSE: CHE), one of Russia’s leading integrated and diversified meat producers, executed its obligations under the bond series 01 put option in full.

Cherkizovo Group OJSC (LSE: CHE) executed its obligations under the bond series 01 put option in full (state registration number 4-01-10797-А dated 11.05.2006).

Within  the framework of the bond offer Cherkizovo Group OJSC bought back 1 287 662 (One million two hundred and eighty seven thousand six hundred and sixty two) bonds or 64.38% of the total volume of the bond loan.

The next buyback of bonds will be effected on December 4, 2009 at a price of 100% of nominal value.

The first bond issue of 2 billion rubles by Cherkizovo Group OJSC, with a circulation period of 5 years was realized on June 6, 2006 on MICEX. According to the tender results, the rate for coupon periods 1-6 was determined as 8.85% per annum. On May 18, 2009 the rate of the seventh coupon period was determined as 17.00% per annum.

Sergei Mikhailov, CEO of Cherkizovo Group commented: “Execution in full of the put option on the bond in this challenging economic environment, when we are witnessing substantial defaults on bonds elsewhere in the market, demonstrates the stability of the company, and its ability to fulfill its obligations. Moreover it once again reflects the value that Cherkizovo places on its reputation.”.