2 Nov 2010 12:20

KamAZ plans six exchange-bond issues totaling 6 bln rubles

MOSCOW. Nov 2 (Interfax) - The KamAZ group plans to issue series BO-01 through BO-06 exchange bonds to the overall tune of 15 billion rubles altogether, the company said.

KamAZ plans to place three-year exchange bonds in open subscription on the MICEX Stock Exchange. Series BO-01, -03, and 05 are issues of 2 billion rubles each, and BO-02, -04, and -06 are of 3 billion rubles apiece.

One bond has a face value of 1,000 rubles. The issue has six semiannual coupons and an option for preterm redemption on the request of the bondholders and the issuer's discretion.

KamAZ's debut bond issue worth 10 billion rubles was annulled in April.

The group's lowered total borrowing in the first half by 10% to 20.709 billion rubles from 22.985 billion rubles at the end of 2009.