London, 8 May 2003. Wimm Bill Dann Foods OJSC announced today the pricing of a 5-year US$150 million Eurobond RegS/144A transaction. The issue was priced at par with a coupon of 8.50%. The deal was oversubscribed by more than five times and distributed across Europe, Asia and the United States.
The transaction is structured as Loan Participation Notes issued by UBS Luxembourg S.A. for the sole purpose of funding a loan to Wimm Bill Dann. Application has been made to list the notes on the London Stock Exchange.
The company intends to use the proceeds to reduce its short-term debt as well as to finance capital expenditures.
Wimm-Bill-Dann Foods OJSC16 Yauzsky Boulevard, Moscow, RussiaPhone: +7 095 733-97-26/9727Fax: +7 095 733-97-25web: http://www.wbd.comE-mail: kagan@wbd.ru
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Wimm-Bill-Dann, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to conform them to actual results. We refer you to the documents Wimm-Bill-Dann files from time to time with the U.S. Securities and Exchange Commission, including our Form F-1. These documents contain and identify important factors, including those contained in the section captioned “Risk Factors” in our Form F-1, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, potential fluctuations in quarterly results, our competitive environment, acquisition strategy, risks associated with operating in Russia, volatility of stock price, financial risk management, and future growth subject to risks.All news