AVANGARDCO INVESTMENTS PUBLIC LIMITED 'AVANGARDCO IPL'), the largest producer of shell eggs and egg products in Ukraine and number one producer in Europe, today made its coupon payment for the amount of USD 4 million on its outstanding Eurobonds.
On 28 October 2015, the Company completed the restructuring of its US$200 million 10.0% Eurobonds due 2015 and extended its maturity until 29 October 2018. The 5% coupon payable on 29 October 2015 (representing the semi-annual payment of the existing 10% coupon) to be paid as follows: 2% to be paid in cash as a regular coupon payment and 3% to be paid as payment in kind ('PIK') .
10% coupon will be payable semi-annually in arrears on 29 April and 29 October of each year, commencing 29 April 2016, but subject to the following PIK and cash payment provisions:
Interest payment date | PIK Interest % | Cash Interest % |
29.04.16 | 75 | 25 |
29.10.16 | 75 | 25 |
29.04.17 | 50 | 50 |
29.10.17 | 50 | 50 |
29.04.18 | 25 | 75 |
29.10.18 | 0 | 100 |
The Notes have been admitted to the official list of the UK Listing Authority and to trading on the London Stock Exchange plc's regulated market with effect from November 1, 2010. The Notes mature on October 29, 2018.
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For investor's inquiries: Valeriya Myagkohod AVANGARDCO IPL Investor Relations Manager phone: +38 044 393 40 50 mob.: +38 067 223 46 88 e-mail: ir@avangardco.ua | FTI Consulting London Elena Kalinskaya / Nicola Krafft phone: +44 (0) 20 3727 1000 e-mail: avangard@fticonsulting.com |
Information for editors
AVANGARDCO IPL is one of the largest agro-industrial companies in Ukraine, specialising in the production of shell eggs and dry egg products. As at 30 June 2015, the Company holds a 36% share of the industrial shell eggs market and a 75% share of the dry eggs products market in Ukraine. The Company's laying hens flock is one of the largest globally.
AVANGARDCO IPL has a vertically integrated production cycle. The Company's facilities are located in 14 regions of Ukraine and the Autonomous Republic of Crimea. The Company has 19 farms for
laying hens, 3 second order breeder farms, 10 farms for rearing young laying hens, 6 feed mills, 3 long- term storage facilities and the Imperovo Foods egg processing plant, which is one of the most technologically-advanced facilities for processing eggs in Europe.
The Company exports its products to 37 countries, with its primary export markets in the Middle East, Africa, Asia, the CIS and EU.
The Company's shares, in the form of Global Depositary Receipts, have been trading on the London Stock Exchange since May 2010. The Eurobond issue for approximately US$200 mln with a maturity on 29 October 2018 was included in the official list of the UK Listing Authority (UKLA) and admitted to trading on a regulated market of the London Stock Exchange on 1 November 2010.
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Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of AVANGARDCO IPL. You can identify forward looking statements by terms such as 'expect,' 'believe,' 'anticipate,' 'estimate,' 'intend,' 'will,' 'could,' 'may' or 'might', the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in the Company's geographical locations, rapid technological and market changes in our industry, as well as many other risks specifically related to AVANGARDCO IPL and its operations.
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