Industrial Milk Company eyes Eurobond issue by yearend

Industrial Milk Company (WSE: IMC PW, N/R) General Director Ievgen Osypov said yesterday the company was considering a Eurobond placement by yearend of up to USD 60 mln, Interfax reported yesterday citing comments made at a press conference. Osypov said the exact volume of the issue has not been determined, but suggested it might be USD 60 mln, or roughly 2-3 times EBITDA in 2011. Industrial Milk raised USD 29.8 mln by selling a 24% stake in an IPO on the Warsaw Stock Exchange in April 2011.