Information for fruit and vegetables business in CIS
Rosan Agro placed bonds
Rosan Agro Ltd, located in Ivano-Frankivsk region, has completed placement of registered, interest bearing bonds series "A", with 9-month period of circulation, for the total value UAH 2 million (US$ 370,370).
According to press-service of JSC Credit Bank Ukraine (Lviv) - the underwriter of bonds issuance - the bonds yield to placement constitutes 16 percent per annum.
Rosan Agro Ltd has issued two series of bonds - A and B - with face value UAH 1,000 (US$ 185), for the total value UAH 5 million (US$ 925,925).
Term of circulation of series "B" bonds is 36 months with half-yearly payments of coupon interest.
Coupon interest rate for both series is 16 percent a year.
Placement of series "B" bonds will be made between November 11-30 this year.
Rosan Agro Ltd specialises in production and sales of agricultural goods. Its 82.05 percent share is owned by Rosan Corporation Canada. In the first half-year 2002 the company's net earnings from sales constituted UAH 2.963 million (US$ 548,700).
The company intends to invest the earnings from bonds placement into developing a distribution system and boosting production of pigs.
Credit Bank Ukraine was established in 1990, then under name West-Ukrainian Commercial Bank (in 2001 - renamed). Its main shareholders are Kredyt Bank S.A. (52.353 percent), Banking Investment Fund-Service (13.051 percent, both institutions from Poland), European Bank for Reconstruction and Development (28.249 percent); 5.1 percent of share is held by Ukrainian owners. The bank has 18 subsidiaries and 27 branches. Its assets as of October 1 constituted UAH 795 million (US$ 147.2 million), capital - UAH 123.5 million (US$ 22.87 million).