Mainer Investment Limited has successfully listed its bonds on the MTF Market of the Vienna Stock Exchange with the objective of raising funds to finance ambitious investment and industrial projects in Russia.
Mainer Investment Limited (Mainer) received regulatory permission to list up to USD 500 mln of its 2012-2020 bonds on the Multilateral Trading Facility (MTF) Market of the Vienna Stock Exchange.
The listing commenced on March 4, 2013. The Mainer bonds (ISIN-AT0000A0ZBC1) are floating, at 6.5% spread over 6 month LIBOR. The rate for the first period ending 30th June 2013 is 7% with the accrued interest paid every six months. The bonds are held at Central Securities Depository (CSD) of the Oesterreichische Kontrollbank (OeKB).
Eurivex Ltd, a Cyprus based regulated EU Investment Firm is the Paying and Listing Agent.
The Bond issue is backed and secured by Mainer’s own assets.
PROJECTS IN RUSSIA
Mainer is using its strong balance sheet to raise funds in order to invest in two ambitious projects in Russia, said Chairman of the Board and one of the co-founders of the company, Oleg Vlasov.
Dmitry Pavlov and Evgeny Korotaev are the other two executive members of the Board of Mainer.
“Mainer will invest up to $400 mln from the bond proceeds to fund the purchasing equipment for reconstruction of oil refineries of Rosneft, Russia’s leading extraction and refinement company,” said Vlasov, clarifying that the project is to provide purchasing of main equipment for reconstruction of oil refineries of Rosneft to make outgoing gasoline in higher quality level and worldwide standards Euro4, Euro5.
“The project value is in excess of $400 mln based on signed contracts between the parties to the agreement,” said Finance Director Korotaev, adding that Mainer is essentially acting as the financing company providing funds for the completion of the project, which may be done in stages, effectively reducing the investment risk.
Mainer will also gradually invest $100 mln from the bond proceeds to fund the construction of an automated parking system in Moscow and other Russian cities in cooperation with A-Finance Ltd and Hanwha Group (South Korea).
All investment projects undertaken by Mainer have been professionally verified backed by feasibility studies proving their financial viability based on firm commitments and signed agreements to achieve the intended results in the nearest future.