UTair-Finance issues bonds totalling 3 billion rubles

UTair Aviation affiliate UTair-Finance has issued bonds totaling 3 billion rubles. The loan was led by BK Region and AB Rossiya.

The application book was closed with a coupon level at 10% per annum , with t he interest rate for BO-6 and BO-7 bond coupons set equal to the interest rate of the first coupon. Maturity of the bond issue was set at 3 years without interim offer, with the coupon period at 91 days.

The subsidiary registered claims for 24 investors, among them commercial banks, investment and managing companies.

Funds from the bond issue will be used to refinance current debt as well as to pay deposits on aircraft leasing deals within UTair Aviation's fleet expansion efforts.

UTair-Finance is a UTair Aviation affiliate tasked with developing and managing the airline’s investment program.  UTair Aviation served as the underwriter for the loans.