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Stirol to issue eurobonds worth 100 mln euro in 2005

February 25, 2005 | Cbonds

Stirol Company (Golovka, Donezk Region), one of the major chemical products manufacturers in Ukraine, plans to issue eurobonds in order to raise funds for production development, said Andrey Khodus, deputy CFO of the company. “We plan to launch eurobonds in the second-third quarter of 2005 in total amount of 100 mln euro”, - Khodus said at the international investment forum in Kiev, arranged by Alfa-Bank.

According to him, the placement proceeds will be used for production development. Khodus announced that in 2004 the company’s turnover amounted to USD450 mln, and it count on further growth of turnover in 2005.

“Considering our plans of production development, our turnover in 2005 may total USD560-600 mln”, - he said.

Based on the company’s information, 85% of total sales goes to external markets. Stinol uses all its revenue for production development as well.

Based on Reuters data

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