Gold miners count on bonds
“ Gold of Seligdara “ the gold mining company " is going to place papers on 1-1,5 mlrd roubles
Despite a paralysis of the market of public loans; Gold of Seligdara “ expects to place till the summer release of exchange bonds on 1-1,5 mlrd rbl. the Company is going to involve means not more expensively than under 30 % annual and to direct them on refinancing of two before the placed bonded loans. Meanwhile analysts sceptically estimate chances of the company to place a paper under the rate more low than 40 %.
Open Society “ Gold of Seligdara “ is engaged in extraction of precious metals (gold, silver and metals of platinum group). The company gain in 2007 has made 48,200 million dollars, the net profit - 7,162 million dollars In 2008 the company planned to extract 3 t gold. Together with Open Society “ Atomredmetzoloto “ “ Gold of Seligdara “ Plans to master a deposit Lunar, containing stocks of uranium and gold.
board of directors of the Yakut gold mining company “ Gold of Seligdara “ has decided to place the third release of bonds for a total sum 1,5 mlrd rbl. the Company is going to let out 1,5 million papers face value 1000 rbl. for a period of five years. As have told daily in the company “ Russian funds “ (the organizer of release), the gold miner is going to direct the involved means for refinancing of current debts. In particular, the company in 2006 has placed two releases of bonds - on 300 million rbl. under 14,5 % annual and on 500 million rbl. under 13 %. “ the First and second loans of the company have shown that its bonds are in demand “ - the employee " speaks; Russian funds “.
the Emitter and organizers count that papers of the company and now will interest “ old clients “. “ Preliminary arrangements already are “ - the interlocutor daily in " speaks; Russian funds “. Thus to holders of papers “ Gold of Seligdara “ the previous releases it is offered to exchange them on new with higher profitableness. “ while release is not registered, to speak about profitableness early. But we assume that it will be below 30 %, but above 18 % “ - speak in investment company. To finish placing it is planned to summer of this year.
experts doubt that the gold mining company completely will manage to realise the planned plans. Egor Fedorov from Bank of Moscow notices that time for re-structuring of debts under such scheme now not the best. “ in current conditions it is impossible to involve means in the market in such volume under the rate below 40 % annual. It is necessary to count that papers will redeem either strategic investors, or shareholders “ - he speaks. However, he notices that before a company paper were in demand investors. It is necessary to notice that now bonds “ Gold of Seligdara “ first two releases bargain on 62-88 % and 80 % from face value accordingly.