AdvanceTrack issues 658 million rubles worth of bonds

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AdvanceTrack Places Bonds Worth RUB 658 Million

Russian company AdvanceTrack (LKK AdvansTrack) has successfully placed exchange-traded bonds worth RUB 657.739 million (approximately USD 8.2 million), according to information provided by the issuer.

The bond issue, series 002P-01, accounts for 43.8% of the total loan amount. AdvanceTrack sold 657,739 bonds at a nominal value of RUB 1,000 each during the period from July 7 to August 7.

The bonds have a maturity of 5 years, with a coupon period of 30 days. The coupon rate is fixed at 24.50% per annum for the entire term. The bonds will be repaid in amortization installments of 5% at the end of the 41st to 60th coupon periods.

AdvanceTrack also reserves the right to redeem the bonds early at the end of the 30th coupon period.

Reviewed by Alexei Grishchenko, Ph.D., Professor of Operational and Sectoral Management at the Higher School of Management, Financial University under the Government of the Russian Federation.