OREANDA-NEWS. On April 14, 2009 JSC Russian Railways (RZD) fully placed its Series 14 infrastructure bonds with a total face value of 15 billion roubles. The placement was via open subscription at the MICEX stock exchange. The first coupon will be paid at a rate of 15% pa., reported the press-centre of RZD.

The placement was organized by VTB-Kapital, Gazprombank, Sberbank of Russia, TrasnKreditBank and Troika Dialog.

The non-convertible interest-bearing Series 14 bonds have a total face value of 15 billion roubles and a term of 6 years, and will pay 12 half-year coupons. The issue also includes an offer of early redemption after 3 years. The state registration number is No.4-14-65045-D.

The interest rate on the bonds will be adjusted every six months in line with variations in the fixed rate of direct repo transactions by the Bank of Russia over a period of seven calendar days.
The funds raised by the placement will be invested in infrastructure projects within RZD’s investment program and financial plan.