Ust-Luga OSJC (Leningrad Region) intends to place the first bond loan in December 2006. The loan’s volume is be 600 million rubles, the company informed PortNews IAA. The decision was approved by the Board of Directors of Ust-Luga OSJC on September 29, 2006 and then on October 18, 2006.
600 000 securities are to be placed by public subscription. Nominal value of each bond is 1000 rubles.
The bonds of Ust-Luga OSJC are to be inconvertible interest-bearing documentary securities to bearer with obligatory centralized storage. Repayment period is 1092 days after placement is started. Coupon period is 91 days.
The bonds are to be secured by state guarantee of Leningrad Region.
KIT Finance investment bank (Saint Petersburg) is to be the underwriter of the emission.