PJSC "Novorossiysk Commercial Sea Port" launches registration of its Ruble bond program
PJSC "NCSP" launches registration of its Ruble denominated bond program.
Registration includes all the necessary tender procedures for selecting financial institutions, as well as obtaining necessary corporate approvals in accordance with the Charter of PJSC "NCSP" and with applicable legislation.
According to Deputy CEO for Finance and Economy of PJSC "NCSP" Andrei Bubnov, “The company's strategy is aimed among other things at diversifying available sources of funding. Ruble bonds are a key financing source for Russian companies, and this instrument will complement NCSP’s portfolio.
The total par value of the program amounts to18 billion Rubles.
“Ruble bonds are usually registered as a program, the size of which exceeds the actual borrowing needs of the company”, - Andrei Bubnov explained “The size of the program is defined to ensure maximum flexibility when selecting the actual tranche for placement. Decision on placing each tranche will be made according to the company’s financing needs”
The program is expected to be registered during the next 2-3 months.
About NCSP Group
Novorossiysk Commercial Sea Port is the largest Russian port operator and the 3rd operator in Europe in terms of cargo turnover. NCSP shares are traded on Russia's MICEX exchange (NMTP) and on the London Stock Exchange in the form of GDRs (NCSP). NCSP Group consolidated cargo turnover in the 1st half of 2011 totaled 76.8 million tons, and consolidated revenue to IFRS for the 1st half of 2011 totaled $494.1 million and net profit of $308.0 million. NCSP Group combines the following stevedore companies: OJSC Novorossiysk Commercial Sea Port, PJSC Primorsk Trade Port (since 2011), PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC Fleet of NCSP, OJSC NLE, OJSC IPP, and Baltic Stevedoring Company Ltd.
For more information please contact:
Media: senko@ncsp-net.com;
Investment Community: MGrigoriev@nmtp.info