Transcreditbank Arranges Debut Bond Issue of Zheldoripoteka
OREANDA-NEWS. December 14, 2007. In early December 2007, ZAO Zheldoripoteka, a subsidiary of JSC Russian Railways, placed its series 01 bond at MICEX, the press service of Transcreditbank reported. The issue was arranged by TransCreditBank, Bank Petrokommerts, IG Capital.
The issue size is RUR1.5 bn, par value – RUR1,000/bond. The issue matures in 3 years.
The whole issue was placed through an exchange auction where 27 bids were met. Upon analysis of bids made during the auction the issuer decided to set the rate for coupons 1-3 at 12.5% p.a. translating into 12.89% yield 1.5 years after the launch date when the put option may be exercised.
As per the Information produced for the offering, Zheldoripoteka intends to apply proceeds of the issue towards acquisition of new sites for development and performance of survey and research works, as well as towards financing new construction projects under JSC RZhD mortgage program and its own investments.
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