GRAND Association Plans to Issue Inaugural Bond Certificates to the Amount of 3 Bln rubles
ZAO GRAND Association which manages a network of gasoline filling stations branded RussNeft plans to issue 3 years’ bond certificates of the first series to the amount of 3 bln rubles, an official report of the company says.
The company intends to place 3 bln of bond certificates with denominational value of 1 thousand rubles by public subscription. The placing price will be 100% of the denominational value.
As it was reported in early 2005 it became possible for RussNeft to distribute petroleum products via a network of gasoline filling stations operating under a franchise system.
ZAO GRAND Association has operated on both the wholesale market and the retail market of petroleum products in Moscow since 1992. At present, ZAO GRAND Association has a network of 59 gasoline filling complexes in Moscow and gasoline filling stations in the Moscow region and the Krasnodar Terriotory.