OREANDA-NEWS. June 18, 2010. Sviaz-Bank acted as a co-manager in floating the five-year Series 02 bond issue offered by TransContainer OJSC to raise 3 billion rubles, reported the press-centre of Sviaz-Bank.

The issue was floated on the MICEX Stock Exchange by public subscription. The entire bond issue was sold out on the first offering day. The rate of interest payable on the first coupon of TransContainer’s Series 02 bonds was fixed on the book building basis at 8.8% per annum. The effective yield to maturity worked out to 8.99%. Sviaz-Bank’s share in the bond issue amounted to 600 million rubles.

TransContainer OJSC intends to use the funds received from the sale of its bonds to refinance its debt obligations, purchase large-capacity containers and specialized railroad flatcars, and meet its other needs.

VTB Capital CJSC, Citibank Commercial Bank CJSC, and TransCreditBank OJSC were the managing underwriters of the offering. The syndicate of issue underwriters also included Sviaz-Bank and Sberbank of Russia OJSC as co-managers and Promsviazbank OJSC and Investbank Otkrytiye OJSC as co-underwriters.

TransContainer’s Series 02 bond issue was registered by the Federal Financial Markets Service under registration number 4-02-55194-Е on May 6, 2010.

TransContainer OJSC is a subsidiary of Russian Railroads (RRR) OJSC. TransContainer is a leading containerized freightage operator in the Russian Federation and provides a wide range of container freightage organization and logistical services. TransContainer OJSC operates 16 branches across the Russian railroad network in the Russian Federation, 47 container terminals in all Russian railroad hubs, and three container repair facilities – in Moscow, Lipetsk, and Nizhniy Novgorod regions. The company also owns a large sales network that comprises 140 sales offices in the Russian Federation, seven representative offices in foreign countries (China, Latvia, Belarus, Ukraine, Uzbekistan, and Germany), and eight foreign agent companies from China, South Korea, Japan, Finland, Latvia, and Turkey.