Sergey Kondratiev, Senior Expert of the Institute for Energy and Finance Fund:

 — Unlike many other companies, Atomenergoprom borrows money for the development of real economy

According to the Department of Communications of Rosatom State Corporation, Atomenergoprom 4-year bonds of 06 series with a total nominal value of 10 billion rubles were floated at the MICEX Stock Exchange on August 5 (maturity date — August 15, 2014). The bonds are guaranteed by the state corporation.

Sergey Kondratiev, Senior Expert of the Institute for Energy and Finance Fund:

Today Atomenergoprom is one of the most high-quality borrowing entities in the Russian market. Due to the diversified asset profile, high quality management and state support, the company’s bonds are regarded by market participants as one of the most reliable in the Russian market (in terms of this indicator, they are comparable with Russia’s largest infrastructure companies such as Gazprom, Transneft and Federal Grid Company (FSK)).

Unlike many other companies, Atomenergoprom borrows money primarily for the development of real economy — reconstruction and construction of new production facilities. Thus, despite the economic crisis, in 2008–2010Atomenergoprom continued to implement its ambitious program of the company development (of the entire industry in fact), which was designed in order to increase the implementation of all elements of the production chain (from uranium mining to construction of new generating capacities and development of engineering assets), and now it enters more and more new foreign markets. All this creates good prospects for the post-crisis growth, and probably it is the reason for the increased interest of investors in the company bonds (the volume of applications has 2.5 fold exceeded the actual floating).

In its turn, the floating of 4-year bonds will help Atomenergoprom to obtain relatively «long» and «cheap» (coupon rate is equal to 7.50–7.75%) funds for implementation of the investment program as well as to reduce total cost of the borrowed assets by means of rejection of more expensive bank loans. High reliability of the bonds and their investment attractiveness are proved by the increased demand for securities on the part of medium and small investors (purchase amount — from 10 to 200 million rubles), who primarily regard the purchase of bonds not as a financial speculation but as a tool for reliable preservation of funds.