OREANDA-NEWS. August 25, 2010. Sviaz-Bank acted as one of the managing underwriters of seven-year Series 01 bonds issued by Territorial Generating Company 9 to raise 7 billion rubles. The issue was sold on the MICEX Stock Exchange, reported the press-centre of Sviaz-Bank.

The bonds were sold by public subscription. Competitive bidding fixed the interest rate of the first coupon of the company’s first-ever bond issue at 8.1% per annum. The ratio of effective yield to a three-year option worked out at 8.26%. Each security has a par value of 1,000 rubles, and interest is payable on coupons every six months.

Over 50 bids were filed by investors during the auction, offering coupon interest rates in the range of 7% to 8.35% per annum. The total demand for bonds reached 15.8 billion rubles, more than twice the supply actually sold.

Alfa-Bank OJSC, Sberbank of Russia (OJSC), and TKB Capital (CJSC) were the other managing underwriters of the issue, in addition to Sviaz-Bank.