OJSC Kievmedpreparat Paid First Yields at UAH 36.77 per Bond
On February 19, Kievmedpreparat successfully paid the first yield accrued on A Series bonds with ARTA Investment Partners acting as a lead manager. The payment agent, Finance & Credit Bank, paid interest to the sum of UAH 36.77 per bond.
The bond placement was completed in November 2007. The maturity period of the debt securities is three years (maturity date - November 16, 2010) - coupon payable on a quarterly basis. The coupon is 14.75% annual for the first four coupon periods, while the interest rate for the fifth to eighth quarters and ninth to twelfth quarters will be subsequently determined by the issuer based on the prevailing market conditions. The next coupon payment will be on February 19, 2008. The upcoming offer is scheduled for November 18, 2008.
OJSC Kievmedpreparat is a major domestic pharmaceutical company within the Arterium Corporation, and it manufactures more than 80 medical products representing 10 pharmacotherapeutic groups. The Company intends to invest raised funds for upgrading and innovating production facilities.
The national credit rating agency Credit Rating has assigned uaBBB/Stable to Kievmedpreparat. The company’s lending policy implies using loans along with various debt instruments in a reasonable and economically feasible manner.
NOTE:
ARTA Investment Group includes ARTA Investment Partners Ltd., ARTA Securities Ltd., and ARTA Assets Management Ltd. Since 2002, ARTA provides a full range of investment banking services including brokerage, corporate finance and asset management. ARTA has attracted approx USD 1.5 billion of investments to the local market.