JSC "Lutsk Automobile Plant" (LuAZ) will issue bonds worth UAH 130 million, according to the official publication of the State Commission for Securities and Stock Market.
The bond circulation period is 1,820 days, from June 20, 2005 to June 13, 2010. Placement will be carried out by the underwriter JSCB "Ukrsotsbank" until June 12, 2010. Redemption on June 14, 2010.
The yield on the bonds for the first through fourth interest periods is set at 14% per annum. The interest period is 91 days.
Early redemption of the bonds at par is envisaged after the fourth, eighth, twelfth and sixteenth periods.
For reference. The charter fund of JSC "Lutsk Automobile Plant" amounts to UAH 184 million. Currently, 64.67% of shares of JSC "LuAZ" are owned by the British company SV Motors Ltd.
The shareholders' meeting of LuAZ held on March 18, 2005 decided to increase the charter fund by UAH 648 million.