UkrSibbank JSIB has placed Series A bond issue of Citycom Ltd
The lead underwriter UkrSibbank JSIB has placed in full and ahead of time Citycom Ltd Series A bonds worth UAH 50 million. Initial placement lasted from July 10, 2006, to November 25, 2006.
The bonds have been placed at a yield of 15% to maturity, sold to more than a dozen investors.
The bond issue has been registered by the State Committee for Securities and Stock Market (registration certificate No. 382/2/06 of June 26, 2006).
Main parameters of the bond issue:
- Issue size: UAH 50,000,000;
- Face value of the bond: UAH 1,000;
- Maturity: 60 months
- Coupon yield: 15% for the 1st and 2nd coupon periods;
- Coupon period: 91 days;
- Early bond sale: after the 2nd, 6th, 10th, 14th, and 18th coupon periods;
- Depositary: MFS public joint-stock company;
- Lead underwriter: UkrSibbank JSIB;
- Paying agent: UkrSibbank JSIB.
Additional security for bonds is provided by the guarantor – Unitrade 2000 Ltd. Unitrade 2000 Ltd and Citycom Ltd have signed a contract of guarantee, under which Unitrade 2000 Ltd undertakes full responsibility for the fulfillment by Citycom Ltd of its obligations to redeem bonds and pay interest.
UkrSibbank JSIB will maintain the liquidity of the secondary market of the Issuer's corporate bonds, posting daily quotes on PFTS and Reuters.
Reference:
Citycom Ltd operates Ukraine's only chain of supermarkets of modern electronic appliances that work in the Cash&Carry format under the brand name City.com. The current number of supermarkets is 8. The company's 2005 turnover was USD 32 million.
Citycom Ltd is part of the holding company AVentures Group, which has been working in the Ukrainian retail market of electronics since 1994. Presently it incorporates a group of distribution companies - Direct Line, Udicom, Service Master; a group of retailers - Unitrade, City.com, and Melofon; commercial real estate management company TRE'n'D; and consulting company B.zone (Business zone). As part of its pilot projects, the holding company is developing a chain of household appliances supermarkets – SamoByt, a chain of digital photo equipment – Megapixel, and a chain of computer clubs – Sector.
The holding employs over 2,000 staff.
AVentrues Group increased its 2005 turnover by 2.15 times to USD 430 million.
In 2006, AVentures Group plans to increase its turnover by more than twofold to USD 1 billion.
UkrSibbank JSCIB was registered on June 18, 1990. The bank holds a full NBU license for banking operations No. 75 of December 24, 2001.
As of 01.09.2006, the bank's net assets totaled UAH 15.6 billion, capital – UAH 2.0 billion, credit and investment portfolio – UAH 12.79 billion, funds of corporate clients – UAH 4.0 billion, funds of private clients – UAH 3.1 billion.
Currently the bank operates a regional network of 950 branches and offices all across Ukraine. The bank's clientele includes 60,000 Ukrainian companies, while the number of private client accounts exceeds 1.9 million.
UkrSibbank JSIB holds leading positions among the managers placing bonds in Ukraine. The bank has repeatedly topped the rating of investment banks published by Cbonds agency. Since 2001 the bank has acted as the underwriter of 47 bond issues worth over UAH 3.3 billion. The following major companies have issued bonds with the participation of UkrSibbank JSIB: Kyivstar GSM (first and second bond issues), State Joint-Stock Company Titan (second bond issue), State International Airport Boryspil (first and second bond issue), Sarmat Private Joint-Stock Company (first and second bond issues), Kyiv-Konti Private Joint-Stock Company, Azot Public Joint-Stock Company, Grain Trading Company Ltd, ProCredit Bank, municipal administrations of Kyiv, Kharkiv, Zaporizhzhia, and Odesa, to name only a few.
Press service:
Lilia Bevziuk: +38 (044) 537 49 18 bevzuik@ukrsibbank.com
Tatiana Shykeriayevaya: +38 (044) 201 22 71 T_Shikerjavaja@ukrsibbank.com
Victoria Pashchevskaya: +38 (044) 201 22 71 V_pashchevskaya@ukrsibbank.com
