Bogdan Automobile Plant EGM approves UAH 200 mln bond placement

At their EGM on August 5, Bogdan Automobile Plant (LUAZ: BUY) shareholders approved placement of its five-year local bonds for UAH 200 mln (USD 41.2 mln). The bonds have annual put option and 13.5% coupon rate set for the first four quarterly coupon periods. At their EGM on August 29, Bogdan Automobile Plant shareholders are scheduled to vote on increasing the company’s charter fund via issuing an additional of 1,100 mln shares (90% of the new capital is planned to be contributed in the form of assets of four automotive companies).