PRESS: Roscosmos to build 2 satellite plants, use 50 bln rbl bonds

MOSCOW, Dec 21 (PRIME) -- Russian state corporation Roscosmos plans to build two plants to manufacture satellites and will issue 50 billion rubles bonds to finance the project, General Director Yury Borisov told business daily Vedomosti in an interview published on Wednesday.

“One will be constructed together with ISS-Reshetnev Company, perhaps in Krasnoyarsk because all the competences are there. And the other may be built in the Moscow Region because there is a whole branch of other entities here,” Borisov said, adding that logistics should be wise not to carry materials across the whole country.

ISS-Reshetnev Company, part of Roscosmos, is the country’s largest developer and maker of satellite apparatuses of connection, television broadcasting, navigation, and the like.

Roscosmos plans to raise the money for construction through bonds. The securities will be issued by the corporation’s financial arm and be placed on the country’s stock exchanges, Borisov said.

“The volume is limited at 50 billion rubles and the maturity period is set at 15 to 20 years with coupons to be paid on every 181st day,” he said, adding that the first bond issue for 10 billion rubles will be offered in 2023.

(69.0037 rubles – U.S. $1)

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