ProfMedia made advanced redemption ofinaugural issue ofCLN on23June 2008. The overall loan volume without interest was $250 mln.
The anticipated redemption isdetermined bythe speedy growth ofProfMedia, and advanced opportunities ofnew fund rising, says CFO ofProfMedia Vladimir Pravdivy. During the whole term CLN ofthe company were highly liquidable securities ofsteady quotes.
CLN were underwritten inDecember 2006predominantly through external funds ofAsia, Great Britain, USA and Switzerland. Some Russian investors also took part inthe bargain. According tothe terms ofunderwriting the CLN were issued for two years period with fixed annual coupon rate of10,75%, and the company had anoption ofadvanced redemption ofCLN onthe 15th, 18th and 21st month ofthe issue period.