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26.06.07 VAB Bank successfully completed the placing of the bonds issue by «Sumykhimprom»
VAB Bank completed the placing of the bonds of «Sumykhimprom» with the followings basic parameters:
- Volume: 50 000 000 UAH
- Type and form of securities: registered bonds in non-documentary form;
- Duration: to June, 07 2010;
- Rate of coupon: the 16.00 % annual fixed for 1- 4 coupon periods. The rates of subsequent coupons will be determined by the Issuer later;
- Coupon period: 91 day (3 months);
- Possibility of call provisions: through each 364 days from the date of placing at 100 % of the price or a face value;
The bonds were placed in the primary placing with leading Ukrainian banks, insurance companies, investments and pension funds.
According to the head of the department for treasury and financial institutes of VAB, Lucas Tursa, in connection with the growth of liquidity in the money market and shortage of promissory instruments of acceptable credit quality the bonds of «Sumykhimprom» fully satisfy the demand on the primary placement.
After registration of the placement in the State commission on securities and fund market for bonds, «Sumykhimprom» will be entered in the listing of PFTS.
An enterprise plans to use the attracted funds in the reconstruction and modernization of its production facilities.
A rating agency gave the credit rating on the issuer BBB-. The prognosis is stable.
Reference dataInformation on the bond issuer:
OAO «Sumykhimprom» is one of the leading enterprises of the chemical industry of Ukraine. The company is specialized in the production of dioxide titan, sulphuric acid, yellow and red pigments, mineral fertilizers and coagulant for water treatment.
100% of the chartered capital of the company is owned by the Ministry of Industrial Policy of Ukraine.
In 2003 the company was certified according to the quality management system ISO 9001/2000 In 2004 the company was certified according to the requirements of the enviromental control system for the production of mineral fertilizers in accordance with the international standard of ISO 14001:1996.
In 2006 the profit of company amounted to 621 million UAH
The amount obtained by the placing of the bonds will be used by the company for the modernization of its production facilities.
About VAB Bank:
Vseukrainsky Aksionerny Bank (VAB Bank) operates in the Ukrainian financial market since 1992 and, according to the NBU, ranks among the large bank groups as to assets. The bank's regional network comprises of 23 branches and 126 outlets, as well as a representative office in Budapest (Hungary). TBIF Financial Services B. V. (Amsterdam, Netherlands), a large international company, is one of the bank's shareholders. In October 2006 VAB Bank became a member of the VAB Group.
As of April 1st, 2007 VAB Bank's total assets amounted to UAH4.3bn, regulatory capital — UAH552.2m and share capital — UAH201.4m.
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