OREANDA-NEWS. October 07, 2009. In September 2009 Alfa Capital Markets successfully executed a USD95 m capital increase by way of an Accelerated Bookbuild of GDRs for Integra Group (LSE: INTE), a leading oilfield services provider and manufacturer of oilfield services equipment (the "Company"), reported the press-centre of Alfa Bank.

The offering represented approximately 21.0 per cent of the Company’s outstanding share capital, post issue. Seventy per cent of the gross proceeds from the offering are to be used for a partial prepayment of the Company’s US 250 million syndicated loan arranged by the European Bank for Reconstruction and Development. The Company expects to use the remaining thirty per cent of the gross proceeds primarily for capital expenditure and general corporate purposes.

Despite volatile market conditions, the transaction was well received by investors with a strong level of interest seen across Europe, allowing Alfa Capital Markets to price the offering at US2.50 per GDR with only 6.7%  discount to the market price at that moment. The offering was heavily oversubscribed, which resulted in positive aftermarket performance of Integra Group’s GDRs up to the last close price US3.00 representing 20% increase from the price of the offering. As a result of the offering daily trade volume of Integra Group’s GDRs increased from US\\$1.2m average for the last 3 months prior to the deal launch to US3.1m average after pricing.

Alfa Capital Markets acted on the offering as Joint Bookrunner together with ABN AMRO Bank N.V., London Branch, and Morgan Stanley & Co. International plc. This deal reinforced the strength of Alfa Bank’s Equity Capital Markets platform and allowed the bank to achieve the leading position among Russian banks according to Bloomberg and Dialogic league tables for equity book runners.