20 Oct 2015 15:21

United Wagon Co planning up to 100 bln rubles in bonds

MOSCOW. Oct 20 (Interfax) - UWC Finance , a special purpose vehicle for United Wagon Company (UWC) , approved a program to issue up to 100 billion rubles in bonds maturing in up to 30 years, on Tuesday, UWC Finance said in a statement.

Bonds with "various characteristics" will be placed "as the need arises," a UWC spokesperson told Interfax. "The proceeds will be used for business development, augmenting the fleet and financing current operations," the spokesperson said, adding that the bonds ought to appeal to a wide range of investors.

The spokesperson also said that bonds might be used to substitute previous loans if this proves economically effective.