TMM redeems Series D bonds
5 October 2009
TMM Real Estate Development said on Friday in a press release that it redeemed its Series D bond issue in the amount of UAH 180.6 mln in full and on time when it matured on October 1. Larysa Chyvurina, CFO of TMM, after the bond redemption and repaying a UAH 36 mln bank loan in spring, TMM’s short-term debt amounted to UAH 6 mln maturing in December 2009. Andriy Gostik: After the redemption of the bonds, TMM significantly improved its perception on the market as a creditworthy borrower. This should facilitate the attraction of either new bank debt or a new bond issuance in the coming year. TMM should have no problems repaying the remaining portion of its short term debt, thanks to a credit facility in the amount of UAH 310 mln secured with Oshchadbank at the beginning of the year.
