UTair Finance Places RUR2bn Series 03 Bond Issue

Khanty-Mansiysk: UTair Finance has placed a RUR2bn (approx. USD76.1m) series 03 bond issue. The placement was made on the MICEX Stock Exchange on December 19, 2006 by public subscription in the form of a tender on setting the bonds' first coupon rate.
In the course of the placement, investors submitted bids proposing a range of between 10 and 10.50 percent for the first annual coupon rate.
Bonds are secured by UTair Aviation JSC's guarantee. The maturity is four years provided that the issuer is entitled to the early repurchase of bonds after two years.
Investment in the replenishment and renewal of the aircraft fleet is enabling the airline to implement its plans to expand its range of destinations, increase the number of flights and passenger traffic. Enlarging the helicopter fleet has allowed the airline to considerably boost its international operations in Africa, India, Europe, North America, and other regions.
25/12/06 Russia Newswire (press release), Russia

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