RMK-Finance Reports Closing of Order Book on Series 04 Bonds
OREANDA-NEWS. June 08, 2011. RMK-Finance closed the order book on its series 04 bond offering, with nominal value of R5 bln and a put option three years from the date of sale commencement. The series 04 bonds will reach maturity five years from the date of sale commencement.
Over the course of book building, investors submitted 59 bids with coupon rates ranging between 8.95% and 9.50% annually. The total amount of demand for the series 04 bonds exceeded supply several-fold.
Following completion of book building, the coupon rate on the series 04 bonds was set at 9.0% annually.
Given the market situation, cost of placement, coupon rate on the bonds and existing demand, RMK-Finance decided to satisfy 43 investor bids.
Settlements under the deal will take place upon placement of the series 04 bonds on the MICEX on June 9, 2011.
Placement organizers – Raiffeisenbank, Troika Dialog.
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