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Konstantin Y. Smolentsev
SMOLENTSEV & Partners » Press Centre » Inverviews & Comments »

AgroIntel is preparing for accommodation of bonds

Group of companies “AgroIntel” (Tyumen region) in February-March of 2008 is planning on accommodating bonded loan on 150 million rubles. Term of circulation of bonds – three years, coupon period – six months.

To remind, main production of GC “AgroIntel” – seeds of grain crops, food and fodder grain. The company is known on the agrarian market for selecting unique grades of peas, use of high technologies. Now "AgroIntel" is finishing building a seed factory in Zavodoukovsk area, which provides a full cycle of completion of seeds up to necessary standards and as an output of designed capacity can let out up to 45 thousand tons of seeds of elite reproductions and about 70 thousand tons of food grain annually.

Accommodation of the loan among qualified investors is being carried out by the International corporation "SMOLENTSEV and Partners" and CJSC “R.O.S.T. Corporate projects" within the limits of a development program for a debt market segment of average dynamically developing companies of real sector of the economy carried out together with stock exchange "RTS".

This program, as organizers of release note, is focused on realization of advantages of syndicated investment crediting and release of debt securities that allows creating essentially higher level of convenience, availability and protection against risks for investors. The program is being realized on the agreement basis, participants of which are IC “SMOLENTSEV and Partners”, CJSC “R.O.S.T. Corporate projects”, along with “Stock Exchange “Russian Trade System”, “Baker Tilly Russaudit” Ltd., JSC “Registrator R.O.S.T.”, Consulting group “Banks. Finances. Investments”, “Interfax – Agency of corporate information” Ltd.

As the Chairman of Board of Directors of IC “SMOLENTSEV and Partners” Konstantin Smolentsev told “Vsluh.ru”, loan will be directed on financing investment projects and circulation means, restructuring credit profile, creating public credit history. “When we were planning the release, supposedly, all the money would be placed in trade operations for maintenance of loading new factory. However, after first meetings with potential investors it was clear, that they (surprisingly!) feel more secure and optimistic about industrial development, – Konstantin Smolentsev was telling. – That is why we corrected development concept of an enterprise and went with combined variant”. In particular, attracted in result of accommodating bonds means are planned to be spent on construction of a sorting-drying complex and its equipment (55 million rubles), purchasing land, re-cultivation of crop fields and buying out BRE “Lesnovskoe” (30 million rubles), re-financing of current credit lines (50 million rubles), and only 15 million rubles will be directed to update turnaround means.

Group of companies “AgroIntel” already has an experience of public loans: several bill loans have been placed, which, as Konstantin Smolentsev says, were in favor to investors. For example, basing on work experience with bills GC “AgroIntel”, Yekaterinburg “Joint-stock commercial bank to assist commerce and business" (SKB-bank) has made a decision about project financing at a rate of 190 million rbl. for 5 years with a delay on payments of the basic duty for two years — these means are used for construction of already mentioned factory on completion of seeds. To convince an investor on possible opportunity of project financing, as Smolentsev notes, wasn’t easy. But when calculations were made – it was clear that is it possible to work, estimate financial conditions of borrower, control current liquidity and other indicators. Even though firstly nobody believed that it is possible in agricultural sphere, especially in a Tyumen region.

As to the forthcoming bonded loan, substantiation has been made in the end of last summer, profit was assumed to be at a level of 12,8-13,5 %. However the crisis situation in financial markets has brought its corrective amendments, therefore it has been decided to postpone release. But eventually, according to Konstantin Smolentsev, it became clear, that even on a background of bad market situation separately taken business GC “AgroIntel” looks adequately – holding has financial parameters which can be compared to emitter parameters in its business sector, which bonds are already circulating in the Russian market of public loans. Therefore organizers and potential investors have kept interest to the loan. As a result, an agreement according to which bonds are planned to be placed in a closed subscription has been signed.

Accommodation of a bonded loan of GC "AgroIntel" will create precedent which will confirm perspective of the market of average companies, market of real business, organizers are assured. At the end of January the presentation of loan will be carried out in Moscow, and in the beginning of February — in Tyumen. After that the coupon rate will be set. “We are looking at accommodation with optimism, – Konstantin Smolentsev said, – because a)holding needs money, b)efficiency of business allows to guarantee pay back and c)if it was declared — it is necessary to do it, form public credit history, all positive preconditions to that are there …"

Author: Irina Abbasova


Published at: http://www.vsluh.ru/news/economics/130230.html

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