May 9, 2011

Avangard pays out US$10 million for Eurobonds

Avangardco Investments Public Limited (Cyprus), which runs a number of poultry farms in Ukraine including the Avangard holding company, a large producer of shell eggs based in Ivano-Frankivsk region, paid out US$10 million for the US$200 million Eurobonds issued in October 2010.

The company specifies that the coupon is paid twice a year, on April 29 and October 29 at the interest rate of 10% per annum.

The company securities were included in the official list of the UK Listing Authority (UKLA) and admitted to trading on a regulated market of the London Stock Exchange since November 1, 2010. The notes are due on October 29, 2015.

Earlier, Avangardco Investments had placed US$200 million in Eurobonds in October 2010.

Avangard earned a net profit of US$184.8 million for 2010, when its consolidated revenue rose 37% to US$439.7 million over 2009, its EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortisation) US$193.5 million.

Avangard Holding specialises in the production of shell eggs. It runs production facilities in 14 regions of Ukraine and in the Autonomous Republic of Crimea.