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Freight One may replace loans with bonds if Lisin buys remaining 25% stake

June 26, 2012 Prime (translated by Cbonds)
OAO Freight One may sell bonds to refinance bank loans if entities owned by entrepreneur Vladimir Lisin buy a 25% stake in the company, CEO Oleg Bukin told journalists.

Lisin's company now owns 75% of Freight One; the entrepreneur also plans to buy another 25% owned by Russian Railways.

"We have certain behavioural peculiarities in the framework of our loan agreement allowing us to resort to certain actions, so we are not likely to do it [sell bonds] soon. But if we [Lisin's structure] buy 25%, then we will be considering some ways to replace bank financing," Bukin told journalists on the sidelines of St. Petersburg International Economic Forum.

As reported earlier, Lisin's Independent Transportation Company raised a RUB75bn loan from Sberbank and VTB to pay for a 75% stake in Freight One. the CEO of Freight One said Friday that freight One is in talks with Sberbank and VTB regarding loans to pay for the remaining 25%.
Company — Freight One
  • Full name
    JSC Freight One
  • Registration country
    Russia
  • Industry
    Transportation