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Vneshtorgbank and Promsvyazbank acting as issuing agents have discharged the tender of EFKO bonds

 
20 September 2004

On 14 September 2004, in accordance with the conditions for issuing rouble documentary percentage bonds, on the holder of Series 01 open joint stock company Efirnoe (Efko) took place the compliance of an offer for early buying-out by the Issuer.

By the time of the offer had been made by the Issuer NV monetary credit funds were deposited, however not one demand for an early redemption of the bonds was made to the issuer.

The role of agents for the offer was performed by Vneshtorgbank and AKB Promsvyazbank.  The size of the issue totalled 800m roubles NV, State Registration Number 4-01-41166-A from 18 June 2003, with a maturity of three years, the bonds have six half-year coupons.  The percentage stake of 1-2 coupons was determined on 9 September 2003 at a tender for the distribution of bonds of a size of 17.0% p.a., 3-4 coupons will be set by the Issuer at 15.5% p.a., 5-6 coupons set by the Issuer.  The issue warrantor of the bonds is APIK EFKO and EFKO-Sloboda.  The issuing documents of the issue was foreseen by the Issuer`s put option for the early redemption of bonds at 100% of the price, five working days from the date of the 2 and 4 coupon instalment.

The lead and underwriter of the issue is Vneshtorgbank, the co-lead and underwriter is AKB Promsvyazbank, the co-underwriter is MBRD.  The paying agent of the issue is NP National Depository Centre.

For more detailed information regarding the issuing documentation, information memorandum of the bond loan and financial statements of the issuing visit the Efko homepage (www.efko.ru), the Vneshtorgbank homepage (www.vtb.ru) and the AKB Promsvyazbank homepage (www.psbank.ru).

Reference:  The Efko Group of Companies is one of the leaders in the oil and fat production industry.  It includes enterprises specialising in production, preserving and recycling agricultural produce, producing food stuffs and finished goods.  The main aim of the Group is to produce ecologically clean products from domestic raw materials and use the most advanced foreign technologies (especially branded goods - sunflower oil and mayonnaise Sloboda, Altero and Nezhka).


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