Russian subsidiary of Globaltrans approved resolution authorising preparations for issue of rouble bonds
12.04.2010
NOT FOR DISTRIBUTION IN THE UNITED STATES
Globaltrans Investment PLC (“the Company” or together with its consolidated subsidiaries “Globaltrans” or “the Group”) (LSE ticker: GLTR), announces that the Board of Directors of its Russian subsidiary New Forwarding Company OAO (“NFC”) approved a resolution authorising preparations for an issue of 5-year Russian rouble denominated bonds for a total amount of up to RUB 6 billion (approx. USD 200 million) (“the Resolution”). The bonds, if issued, would be in two tranches of RUB 3 billion each. It is anticipated that the Company will act as the guarantor for the issue.
NFC intends to apply to the Federal Financial Markets Service (“FFMS”) for the approval of the prospectus of bonds issue (‘the Prospectus”) and of the Resolution. The offering of the bonds will be undertaken following approval by FFMS of the Prospectus and the Resolution and after the resolution is passed by the Board of Directors of the Company authorizing this transaction.
Proceeds from the issue are intended to be used to refinance the Group’s debt and for general corporate purposes.
ENQUIRIES
Globaltrans Investor Relations
Priit Pedaja
Mikhail Perestyuk
+357 25 503 153
Email: irteam@globaltrans.com
NOTES TO EDITORS
Globaltrans (Globaltrans Investment PLC together with its subsidiaries - "Globaltrans" or "the Group") is the largest privately owned freight rail transportation group with operations in Russia by the size of owned rolling stock fleet (based on publicly available information) and the first and only such group to have an international listing.
Globaltrans Investment PLC is incorporated in Cyprus and has operating subsidiaries in Russia, Ukraine and Estonia. The Group provides freight rail transportation, railcar leasing, and certain ancillary services to more than 450 clients in Russia, the CIS countries and the Baltics.
As of the end of 2009 Group’s fleet of rolling stock owned and leased under finance and operating leases amounted to 37,217 units, including 18,846 rail tank cars, 17,821 gondola cars, 60 locomotives and 490 other railcars.
The Group’s freight rail turnover in 2009 amounted to 80.9 billion tonnes-km with 52.8 million tonnes of freight transported. In 2009 the Group’s Adjusted Revenue achieved USD 685.3 million with Adjusted EBITDA in amount of USD 284.5 million.
Globaltrans' global depositary receipts are listed on the Main Market of the London Stock Exchange under the ticker GLTR since May 2008.
To learn more on Globaltrans, please visit www.globaltrans.com.
LEGAL DISCLAIMERS
Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of Globaltrans. You can identify forward-looking statements by terms such as 'expect', 'believe', 'anticipate', 'estimate', 'intend', 'will', 'could', 'may' or 'might', the negative of such terms or other similar expressions. Globaltrans wishes to caution you that these statements are only predictions and that actual events or results may differ materially. Globaltrans does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of Globaltrans, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries Globaltrans operates in, as well as many other risks specifically related to Globaltrans and its operations.
This announcement does not constitute and is not an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.Securities may not be offered in the United States absent registration under the US securities laws or an exemption from such registration.