International bonds: Agroton, 2014 (XS0627994477)

Issue information:

Issuer, issue numberAgroton, 2014
SPVAgroton Public Ltd
Yield calculation

Date

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Debt instrument typeInternational bonds
Type of bondsCoupon bonds
Issue statusredeemed
Placement typePublic
Nominal, minimum settlement amountUSD 200,000
Par, integral multipleUSD 1,000
Amount50,000,000
Outstanding amount27,900,000
ISIN RegSXS0627994477
Common Code RegS062799447
SEDOLB3ZMJT3
CFI RegSDYVXXR
Bloomberg code (BBGID)BBG001PJ1RC4
Day count fractionActual/Actual (ISDA)
End of placement07/06/2011
Coupon12.50%
Coupon frequency2 time(s) per year
Interest commencement date07/14/2011
Maturity date**/**/****
Issuer rating on issue date (M/S&P/F)—/—/B-
Issue managersJoint Lead Managers: Dragon Capital, UBS, VTB Capital;
Co-Lead Managers: BZ WBK (Santander group), Jaspen Capital Partners
ListingLondon S.E.
FilesProspectus
Placement participantsBookrunner:
Dragon Capital
UBS
VTB Capital
Co-lead manager:
Jaspen Capital Partners
Bank Zachodni WBK
Last updated issue date07/14/2014

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Placement results:

Initial issue price***
Yield at Pricing***
Additional information***

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Issue ratings:

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Standard & Poor's *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***

Debt Servicing:

StatusDefault
Liability typeCoupon
Planned date of meeting liabilities07/14/2013
Date of meeting liabilities (technical default)07/21/2013
Additional informationFarming company Agroton (AGT PW) reported on July 16 it’s unable to pay a USD 3.1 mln coupon for its USD 50 mln notes that mature in July 2014. The company said it’s considering amendments to its bond terms.

A bondholders meeting approved the bond’s restructuring terms. They include extending the bond’s maturity by five years to July 2019, cutting its coupon to 8.0% from 12.5%, postponing its recent coupon payment (due July 14, 2013) by six months, and loosening its financial leverage covenants.

Bond Quotes by Market Participants:

Market participantDate and timeBid/ ask price (Yield)
Centras Securities10/23/2014**.****/**.**** ( - / - )
VTB Capital10/23/2014**.****/**.**** ( - / - )
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Borrower:

IssuerAgroton
Full issuer nameAgroton
CountryUkraine
RegionCIS
IndustryAgriculture
Issuer ratings:

The information is available only to "Cbonds-Premium", "Cbonds-PRO EM Personal", "Cbonds-PRO EM" subscribers. To subscribe go to the Subscription section under main menu on the left.

Standard & Poor's *** LT Int. Scale (foreign curr.) ***
Standard & Poor's *** LT Int. Scale (loc. curr.) ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int.l Scale (local curr.) ***
Fitch Ratings *** National Scale (Ukraine) ***

SPV:

IssuerAgroton Public Ltd
Full issuer nameAgroton Public Limited
CountryCyprus
RegionWestern Europe
Issuer profileAgroton Public Limited, through its subsidiaries, operates as an integrated agricultural producer in Eastern Ukraine. The Plant Breeding segment raises and sells agricultural products, such as wheat, ...
IndustryAgriculture
Issuer ratings:

The information is available only to "Cbonds-Premium", "Cbonds-PRO EM Personal", "Cbonds-PRO EM" subscribers. To subscribe go to the Subscription section under main menu on the left.

Standard & Poor's *** LT Int. Scale (foreign curr.) ***
Standard & Poor's *** LT Int. Scale (loc. curr.) ***

Payment schedule:

#Coupon dateCoupon, % Coupon size, USDRedemption of principal, USDNotes
1***************
2***************
3***************
4***************
5***************
6***************

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