UralChem planning 16 bln rubles in bonds
MOSCOW. June 29 (Interfax) - UralChem Finance, an SPV for fertilizer producer UralChem, is planning to offer four series of eight-year bonds worth 4 billion rubles each, the company said.
UralChem told Interfax: "The company is looking into the possibility of placing bonds as an option for restructuring its current debt. A final decision on the issue has yet to be made and, therefore, it is too early to discuss the terms for the placement".
The company's total debt at the end of the first quarter of 2010 came to $1.407 billion, of which $528.8 million should be paid within a year.
In the spring of this year, UralChem was forced to cancel its IPO plans even after holding a roadshow since investor assessments of the company were unsatisfactory. All funds from the placement were to be earmarked for paying off debt.