WBD » Topics » Ruble Bonds

This excerpt taken from the WBD 20-F filed Jun 18, 2009.

Ruble Bonds

 

On December 21, 2005, we issued five-year, 3.0 million non-convertible ruble-denominated notes at a face value of 1,000 rubles each. The issue raised a total of approximately $104.2 million at the exchange rate as of December 31, 2005. The notes are redeemable by us on December 15, 2010. The issue was priced at par with a coupon of 9% payable semi-annually.

 

In March and April 2008, we placed a third series of bonds in the amount of RUR 5 billion (approximately $170.2 million at the exchange rate as of December 31, 2008 of which $11.0 million has been repaid as of December 31, 2008) on the Moscow Inter-bank Currency Exchange (MICEX).  The bonds have a maturity of five years and coupons are paid on a half-yearly basis. The interest rates for both coupons in the first year are equal and amount to 9.30% annually. The bonds are due in March 2013, and bondholders had an opportunity to exercise them on March 6, 2009, at 100% of nominal value plus accrued interest. The bonds were classified as current debt until the put option expired in March 2009.

 

On March 6, 2009, we repaid a portion of our ruble-denominated bonds in the amount of 4,660.3 million rubles ($129.9 at the exchange rates as of March 6, 2009) from our operating cash flow. The balance outstanding as of March 6, 2009 was 15.7 million rubles ($0.4 million at the exchange rate as of March 6, 2009). The interest rates for the three subsequent coupons over the next 18 months are 15% annually.

 

In May and June 2009, the Company issued bonds on MICEX raising cash of 3 billion rubles, ($96.9 million at the exchange rates at the dates of transactions). The bonds are due in February 2013, and bondholders have a put option exercisable in September, 2010, at 100% of nominal value plus accrued interest. The annual interest rate of the coupon is 15.0% for the next one and half years. The interest is payable semi-annually, commencing in September, 2009.

 

This excerpt taken from the WBD 20-F filed Jun 26, 2008.

Ruble Bonds

 

On December 21, 2005, we issued five-year, 3.0 million non-convertible ruble denominated notes at a face value of 1,000 rubles each. The issue raised a total of approximately $104.2 million at the exchange rate as of December 31, 2005. The notes are redeemable by us on December 15, 2010. The issue was priced at par with a coupon of 9% payable semi-annually.

 

In March and April 2008, WBD Foods issued Russian interest-bearing, non-convertible, paid to the bearer bonds series 03 with nominal value 1,000 rubles per bond in the aggregate amount of 5.0 million bonds, repayable on the 1820th day from the date of issuance. The coupon rate of the bonds was determined by the Board of Directors on the basis of a tender and constitutes 9.3% annually.

 

This excerpt taken from the WBD 20-F filed Jun 25, 2007.

Ruble Bonds

On April 15, 2003, WBD Foods issued 1.5 million non-convertible ruble denominated notes at a face value of 1,000 rubles each guaranteed by Vitafrukt, one of our juice subsidiaries. The offering raised a total of 1,500 million rubles ($52.1 million at the exchange rate as of December 31, 2005, of which $2.3 million had been repaid as at December 31, 2005). Interest was payable semi-annually in arrears commencing on October 14, 2003, and the interest rate for each coupon period was based on the Consumer Price Index, published by Goskomstat of the Russian Federation. The interest rate for the first, second, third, fourth, fifth and sixth coupon periods were 12.9%, 11.98%, 9.38%, 8.48%, 10.78% and 11.24%, respectively. The notes were redeemable by WBDFoods on April 11, 2006 and we redeemed the remaining outstanding notes on this date.

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On December 21, 2005, we issued five-year, 3.0 million non-convertible ruble denominated notes at a face value of 1,000 rubles each. The offering raised a total of approximately $104.2 million at the exchange rate as of December 31, 2005. The notes are redeemable by us on December 15, 2010. The issue was priced at par with a coupon of 9% payable semi-annually.

This excerpt taken from the WBD 20-F filed Jun 16, 2006.

Ruble Bonds

On April 15, 2003, Wimm-Bill-Dann Foods issued 1,500,000 non-convertible ruble denominated notes at a face value of 1,000 rubles each guaranteed by Vitafrukt, one of our juice subsidiaries. The offering raised a total of 1,500,000 thousand rubles ($52.1 million at the exchange rate as of December 31, 2005 of which $2.3 million had been repaid as at December 31, 2005). Interest was payable semi-annually in arrears commencing on October 14, 2003, and the interest rate for each coupon period was based on  the Consumer Price Index, published by Goskomstat of the Russian Federation. The interest rate for the first, second, third, fourth, fifth and sixth coupon periods were 12.9%, 11.98%, 9.38%, 8.48%, 10.78% and 11.24%, respectively. The notes were redeemable by Wimm-Bill-Dann Foods on April 11, 2006 and we redeemed the remaining outstanding notes on this date.

On December 21, 2005, we issued five-year, 3,000,000 non-convertible ruble denominated notes at a face value of 1,000 rubles each. The offering raised a total of approximately $104.2 million at the exchange rate as of December 31, 2005. The notes are redeemable by us on December 15, 2010. The issue was priced at par with a coupon of 9% payable semi-annually.

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