Amtel's Avto unit to raise €87m with bond issue

Moscow - Amtel-Vredestein has said its subsidiary, OJSC AV-TO is to raise around €87 million through a bond issue.

In a statement, Amtel said, "The 3 billion ruble bonds (approximately $112 million USD) will be issued in denominations of 1000 roubles each (approximately $37,6 USD). The proceeds from this bond issue will be used to refinance debt held by Amtel-Vredestein N.V. on behalf of its AV-TO subsidiary."

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Press release from Amtel-Vredestein