24th Nov 2008 10:21
Press Release
NCSP Paid Eurobond Coupon
November 24, 2008
PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, RTS AND MICEX: NMTP) reports the payment of the third coupon on Eurobonds due in 2012.
Coupon interest paid totaled $10.5 million or $35 per bond. Payment was made in full and on schedule.
The coupon is paid every six months at 7% annual interest rate. Moody's rated the $300 million Eurobond issue (ISIN XS0300986337) as Ba1 and Standard & Poor's assigned a rating of BB+.
PJSC NCSP is also completing dividend payment to shareholders for 2007. According to AGM decision from June 12, 2008, some 356.3 million rubles (0.0185 rubles per share) or 16% of company's net profit for 2007 under Russian accounting standards were allocated for dividend payments. Dividends are paid from September 1 to December 31, 2008.
As of November 21, 2008 a total of 349.8 million rubles were paid to holders of ordinary shares and global depositary receipts. The dividends were paid to all shareholders who provided accurate information on bank accounts and mailing addresses to the company and/or the registrar.
About PJSC NCSP
PJSC Novorossiysk Commercial Sea Port is the largest Russian port operator in terms of cargo turnover. NCSP consolidated cargo turnover for 2007 totaled 79.4 mln. tons, which is some 97% of cargo handled at the port of Novorossiysk (according to the Association of Sea Ports).
NCSP shares are traded on the London Stock Exchange (NCSP) and Russia's RTS and MICEX exchanges (NMTP). Consolidated revenue to IFRS for the first half of 2008 totaled $314.7 mln., EBITDA - $183.4 mln., net profit - $84.5 mln.
NCSP Group includes the following stevedore companies: PJSC NCSP, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, PJSC NCSP Fleet, OJSC Novoroslesexport, OJSC IPP, and Baltic Stevedoring Company Ltd.
For more information please contact:
Tel: +7 (495) 783-5434[email protected]
Related Shares:
Pjsc Novor. S