30 Sep 2010 17:07

Wimm-Bill-Dann opens bid book for 4 exchange-bond series

MOSCOW. Sept 30 (Interfax) - Russia's OJSC Wimm-Bill-Dann Foods (WBD) opened on Thursday a bid book for investors wishing to buy the company's exchange bonds, of which there are four series.

The BO-01, BO-02, and BO-03 bond series total 3 billion rubles each, and series BO-08 is 5 billion rubles. Face value on each is 1,000 rubles per. Guidance for the first-coupon rate is 7.5%-7.75% per annum, corresponding to yield of 7.64%-7.9% pa to a two-year offer, according to VTB Capital, one of the placement agents (the other is Raiffeisenbank).

Bids will be accepted until 6:00 p.m. Moscow time on October 13. Placement on the MICEX Stock Exchange is slated for October 15.

The MICEX decided to allow trading to proceed during placement without listing procedures being implemented for eight WBD bond series totaling 30 billion rubles last November.

This past July, WBD placed three-year exchange-bond series BO-06 through BO-07 of 5 billion rubles each and carrying a coupon rate of 7.9% pa.

The company also has its second series of bonds (3 billion rubles) in circulation; they mature this December.

Wimm-Bill-Dann Foods is one of Russia's leading makers of dairy and juice products.