UTair Finance Completes Bond Obligations Totaling 4.5 Billion Rubles

UTair Finance has bought back a total volume of 3,987,582 bonds for a total nominal value of 3,987,582,000 rubles, discharging its obligations for the purchase of BO-11, BO-12 and BO-13 series bonds to their owners with the condition of a future public offering and further circulation.

UTair Aviation CFO Igor Petrov noted that the successful completion of the bond offer has confirmed significant interest from the investment community in regard to UTair capital market activity as well as the high level of fidelity towards UTair’s long-term strategy.

The original placement of the series BO-11, BO-12 and BO-13 bonds took place on June 21, 2013 on the Moscow Exchange. The total nominal value of bonds issued is equal to 4.5 billion rubles with a circulation period of 3 years, a coupon period of 91 days and a coupon rate for 5-8 coupon periods at 12%. UTair Aviation has provided security for the loan.

The banks managing the bond issue include BK Region, Russian Agricultural Bank, Promsvyazbank, NOTA-bank, NOMOS-BANK and OTKRITIE.