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Russia's Ochakovo To Offer 1.5 Bln Rbl Bond September

August 17, 2005 Prime-Tass
Russian beer and soft drink manufacturer Ochakovo plans to offer its second, 1.5 billion ruble three-year sinking-fund bond issue in September, a representative with Preodoleniye bank, the underwriter for the offering, told Prime-Tass Wednesday.
The rate of the first six coupons is to be set at the auction, with the bonds offered at par on the Moscow Interbank Currency Exchange (MICEX) in 1,000 ruble denominations.
The sinking-fund provision bond is to be redeemed in three installments, with 30% of par value to be paid 728 days, or two years, after placement, another 30% to be paid after 910 days, or 2.5 years, and the remaining 40% on the 1092nd day, or three years, after placement.
Holders may request advanced bond redemption if the issuer is late on coupon payment by more than seven days.
Russia's Federal Service for Financial Markets (FSFM) registered the issue of 1.5 million bonds in 1,000-ruble denominations August 16.
The company repaid its debut 500 million ruble bond issue in May 2005.
Ochakovo is one of Russia's three leading breweries.
In 2004, Ochakovo's output amounted to 755 million liters, including 554.5 million liters of beer, 111.8 million liters of low-alcohol drinks and 88 million liters of soft drinks.
Ochakovo exports its production to 14 countries, including Israel, Ecuador, Moldova, Georgia and Azerbaijan.
Company — Ochakovo
  • Full name
    closed joint-stock company Ochakovo
  • Registration country
  • Industry
    Food industry