LSR Group to place 8.5 bln rubles in four exchange bond issues
MOSCOW. Feb 2 (Interfax) - OJSC LSR Group is planning to place exchange bond issues BO-03 through BO-06 worth a combined 8.5 billion rubles, the company said in a statement.
The company will place issues BO-03 and BO-05 worth 2 billion rubles, BO-04 - 1.5 billion rubles and BO-06 - 3 billion rubles. All the issues will mature over a three-year period. The bonds come to 1,000 rubles each at a face value. They will be placed by open subscription on the MICEX.
The issues have an option for preterm redemption on the request of investor and at the discretion of the issuer. Each issue has six semiannual coupons.
The group currently has its second classic bond issue worth 5 billion rubles in circulation, as well as exchange bond issues BO-01 and BO-2 worth a combined 3.5 billion rubles.
LSR Group was founded in 1993. The group is divided into. The company also provides building services. In addition to LSR's main co-owner Andrei Molchanov, other shareholders include his uncle Mikhail Romanov, as well as Georgy Vedernikov, Igor Levit and Yevgeny Yatsyshin.
The LSR Group held an IPO at the end of 2007, which raised $772 million. The group's SPO at the start of May 2010 raised $398.1 million. Molchanov's Streetlink was the share seller in this latter transaction.