Globaltrans’ Board of Directors approved the upcoming issue of RUR denominated bond by its Russian subsidiary
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) today announces that its Board of Directors yesterday approved the following resolutions subject to public disclosure:
(i) Approval of the issue by OJSC New Forwarding Company (a Russian subsidiary of Globaltrans) of 5-year Russian rouble denominated bonds for a total amount of up to RUR 6 billion (approximately USD 192 million) to be issued in two tranches of RUR 3 billion each (the “Bond”).
(ii) The Company shall act as the guarantor and provide surety for the Bond issue.
The Bond is to be issued to refinance debt and for general corporate purposes. Closing of the books of the first tranche of the Bond is expected on July 14th, 2010. Moody's Investors Service has recently assigned a (P)B1 rating* with stable outlook to the first tranche of the Bond.
*Current provisional rating is provided in advance of the bond issue. Upon a conclusive review of the transaction Moody's will assign a definitive rating to the securities. A definitive rating may differ from a provisional rating.
For more information, please click here (available only in Russian).
Globaltrans Investor Relations
+357 25 503 153
NOTES TO EDITORS
Globaltrans (Globaltrans Investment PLC together with its subsidiaries - "Globaltrans" or "the Group") is the largest privately owned freight rail transportation group operating 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 have been 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.
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. In addition, the information referred to in this announcement may not be up to date as at the date of this announcement. 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 press release is not an offer of securities for sale in the United States. The Bonds have not been registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. Globaltrans does not intend to conduct a public offering of any securities in the United States.