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PENOPLEX repurchased restructured part of the bond issue

December 9, 2011 Cbonds
PENOPLEX, Russia's largest producer of polymer building materials, made an early redemption of the restructured part of the bond issue in amount of RUR 2,349,771,000. In 2010, PENOPLEX restructured a bonded loan in the same amount. Gregory Protosenya, CEO, of PENOPLEX SPb, commented: "We have always steered for innovative developments in production and use of polymeric materials. In the midst of crisis, our company opened a facility in Kazakhstan and reached production capacity of 2 million m2 a year in manufacture of thermal insulation, proving an absolute leader in the Russian market, while other companies curtailed production and fired staff. We are actively developing a polymer waterproofing project - PLASTFOIL® - material, which proves that it’s possible to build roofs in Russia with a guarantee of more than 30 years! This is the key to our success: all borrowings are used for specific purposes only: to upgrade and expand our production capacity. We invest in the future by developing innovative products of highest quality. And today, having repaid the bonds early, we retained all manufacturing assets, and launched a number of new investment projects."
Company — Penoplex Finance
  • Full name
    PENOPLEX Finance
  • Registration country
  • Industry
    Building Materials