Companies@UA: База компаний Украины

Kyiv, July 28 (Interfax-Ukraine) – Telecoms giant OJSC Ukrtelecom is ready to buy back on schedule B-series bonds submitted by bond holders under a buy-back offer, the company's press service told Interfax-Ukraine.

"The buyback deadline is July 31. We will meet our obligations in time," a spokesman for the company's press service said.

He said 20% of the holders of telecoms giant Ukrtelecom's B-series bonds have submitted their securities for the buy-back offer.

As reported earlier, Ukrtelecom in July 2009 issued B-series bonds worth UAH 250 million at a face value of UAH 1,000 per bond at an annual yield of 15% for the first 12 months of circulation.

The bond issuance conditions foresee a quarterly payment of the yield and an annual at-par buy-back offer. The bonds are to mature on July 25, 2011.

OJSC Ukrtelecom holds a monopoly on Ukraine's fixed communications market. As of today, the state owns 92.79% of the stocks in the company, while 7.14% of its stocks were sold to employees via a closed subscription.

In the first half of 2009, the company's net profit rose by 21.8% year-over-year, to UAH 124.13 million, while its net revenues climbed by 0.8%, to UAH 3.294 billion.