OREANDA-NEWS. March 14, 2011. Sviaz-Bank has acted as one of the managing underwriters of Series 15 and 16 bonds offered by Mechel JSC to raise 10 billion rubles from both issues, reported the press-centre of Sviaz-Bank.

Each issue is offered for 5 billion rubles, with bond maturity of 10 years, and a three-year option coming with both issues.

The issues were floated on the MICEX Stock Exchange in an auction held to fix the coupon interest rate. At the end of the auction, the coupon interest was fixed at 8.25% per annum. The securities have a par value of 1,000 rubles each and a coupon period of 182 days. The bonds are to be retired in February 2021. Demand for bonds was 2.7 times the supply.

Aside from Sviaz-Bank, the underwriting group included Uglemetbank OJSC, Sberbank of Russia OJSC, VTB Capital CJSC, and Alfa-Bank OJSC.