Fesco in Fresh $75 Million Bond Sale

Fesco in Fresh $75 Million Bond Sale

Fesco, the operator of Russia’s largest ocean carrier, has successfully sold $75 million of corporate bonds, just weeks after it closed on a $800 million bond sale.

The privately held company sold the bonds in two tranches: one $50 million issue with an 8 percent coupon due 2018 and one $25 million at 8.75 percent due 2020.

Fesco, which is also active in rail freight, ports and logistics, said the net proceeds from the bonds will be used to repay the group’s outstanding debt and debt taken on in its takeover by the Moscow-based Summa Group in late 2012.

The company also paid down debt with the $800 million bond sale.