Russia: SUN Interbrew issue bonds on the Russian market for the amount of 11 billion rubles

OJSC "SUN Interbrew", Russian subsidiary of the world largest brewer InBev, is planning three ruble bond issuances for the total amount of 11 billion rubles, the company announced on April 25. The placements are planned during the second half of 2006 - beginning of 2007. SUN Interbrew Finance, 100% owned subsidiary of SUN Interbrew Limited, Jersey, which was the issuer of the debut bond of 2.5 billion rubles, will be the issuer for the new bonds. ZAO "Raiffeisenbank Austria" is appointed as the Lead manager for these deals.

New bonds of SUN Interbrew Finance, amounting 11 billion rubles with three years maturity, are part of the long-term funding program for 2006-2007. Coupon interest will be paid in semi-annual coupons. Currently SUN Interbrew is preparing the documentation for the state registration of the bonds with The Federal Financial Markets Service (FFMS). The proceeds from the bond issuances will be used for financing of the capital investments of the company, including expanding and development of the brewing capacities, for refinancing of the debut bond issue, maturing in August 2006, as well as for the refinancing of the existing short-term debt in order to the further strengthening of the company's balance sheet.

JSC "SUN Interbrew", Russian subsidiary of the world largest brewer "InBev" (www.inbev.com), is one of the leading companies in the region with 8 breweries in Russia and its own distribution network. It is the second largest brewer in Russia by volume. The company's main brands are Stella Artois®, Beck's®, Brahma®, Staropramen®, Klinskoye, Sibirskaya Korona, Tolstiak and BagBier in Russia.

Raiffeisenbank is one of the leaders on the Russian domestic corporate bond market. During 2001-2006 the Bank acted as the lead-manager and co-arranger/co-underwriter of 63 corporate bond issues of total nominal value of more than 170 bl roubles.

Raiffeisenbank is ranked 9th in terms of assets among Top Russian banks based on 2005 results (CEA Interfax). Raiffeisenbank is one of the most reliable banks in Russia: Moody's Interfax Rating Agency has assigned the long-term national scale credit rating to ZAO Raiffeisenbank Austria at Aaa.ru and the short-term rating at RUS-1. Moody's Investors Service also assigned the following ratings to the Bank: D Financial Strength Rating (FSR), Baa2 long-term and Prime-2 short-term foreign currency deposit ratings.

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