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Konstantin Y. Smolentsev
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"Club bonds": Tyumen debut

A presentation has been carried  out in Tyumen on bond loans in group of companies “AgroIntel”, which are being planned to accommodate in March 2008.

Parameters of bond release of GC "AgroIntel" looks like: sum — 150 million RUR, term of circulation of bonds — three years, coupon period — six months. Instead offers, organizers of loan have decided to use covenants (obligations of the emitter to correspond to a certain financial restrictions). Theprospectiveinterestrate — 13,5-14 %.

To remind, the organizers of loan are International Corporation “SMOLENTSEV and Partners” and CJSC “R.O.S.T. Corporate projects” with participation Consulting group “BFI”. Accommodation is carried out within the limits of a program of debt financing average companies of actual sector of economy. This program supposedly has to accommodate and circulate securities, which will occur inside a certain "club" of professional investors, therefore new investment product has received the name "club bonds".

Main production of GC “AgroIntel” – seeds of grain crops, food and fodder grain. The company is planning to use attracted means for financing investment projects and turnaround means, restructuring credit profile, creation of public credit history.

Anticipating performances of organizers of the loan, the first deputy director of AIC department in Tyumen region Vladimir Chejmetov has named the project of company “AgroIntel" a first swallow, having noticed, that this company "is famous for introduction of technological changes" in agricultural manufacture, and now in question of attracting means has found an "alternative of direct bank crediting".

However, in the company bond loans are viewed as a way to get money as fast as possible, not as a strategic step. General Director of GC “AgroIntel” Andrey Chalkov said that if it was only about attracting means, it would be easier to take a bank credit. “But there are absolutely other problems set, first of all to keep strategy going”, – noted Chalkov. And the company strategy assumes significant growth of a share in the market for rather small period, and without new financial tools it cannot be achieved.

It should be noted, that “AgroInel” already has an experience of public loaning. But, how the General Director of financial company “Prioritet” (organizer of bill loans of agroholding) Marina Cherepanova told “Vsluh.ru”, it was necessary to collide with conservatism of investors, first of all banks, in relation to the agricultural enterprises. Nevertheless the loan has been successfully placed and extinguished.

As to release of bonds, that of course, is not the cheapest of “pleasure”: and the interest rate cannot be called low, and a overhead charges are high. However, Marina Cherepanova marks, it is necessary for positioning in the market, and if later on the company is going to carry out IPO, it wont manage without this stage.

“Pioneer” step of GC “AgroIntel” has brought attention from other companies of economics sector. This way, manager of Zavadoukovsk agroindustrial company Oleg Simonov in a conversation with a correspondent of “Vsluh.ru” noted that access to the capital is a pressing question for all developing companies. “With our rate of development, bank resources of financing are practically extinct, because the property is already incorporated, and the bank usually demands a ruble for credit, two rubles of mortgage. Therefore mechanisms of access to capital are extremely interesting. "AgroIntel" is brilliant. I think that those products are the future. It is necessary to debug system, and I think, in a year-one and a half many will and carry out bond loans, and accommodate on a market of shares”, – said Simonov.

Agriculture is a special branch, as he agrees: it is distinguished by independence from nature conditions, infrastructure, from government structures and other. But global world tendency favors this sphere (demand is growing, but fields which are available for increasing manufacture, are limited), that is why new technology and investments are needed.  

Organizers of loan for GC “AgroIntel” are sure, that accommodation will be successful. Simultaneously, one of the main problems, as the Chairman of the Board of Directors of IC “SMOLENTSEV and Partners” Konstantin Smolentsev has noted, is relationship development of the company with regional financial institutions. “Today we came to the point of releasing “club bonds”, ahead – classic bonds, strategic investor, and public accommodation of shares will be a logical continuation”, – he thinks…

Author: Irina Abbasova

© 2000-2008 Internet newspaper “Vsluh.ru”

Internet address: http://www.vsluh.ru/news/economics/133529.html

14:15  |  02/06/08
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