Metalloinvest Announces Pricing of 15 Billion Ruble Bond Issue
OREANDA-NEWS. March 21, 2012. METALLOINVEST (“the Company”), a leading global iron ore and HBI producer based in
On March 15, 2012 METALLOINVEST Holding Company JSC closed the books for the placement of its debut non-convertible interest-bearing documentary bonds of the 01 and 05 series with a total amount of RUR15 billion (c. USD508 million). The bonds mature in 10 years (3,640 days) with a put option in 3 years (1,092 days). As a result of the placement the coupon rate was set at 9.00% per annum, which is below the bottom of earlier announced price range of 9.50-10.0%.
Russian and international investors placed 98 orders with the book totaling RUR48 billion. As a result, the book was oversubscribed c.3.2x times.
Settlements under the deal will take place upon bond placement on MICEX on March 19, 2012. Secondary trading is expected to commence on April 12, 2012. Both issues are expected to be included into the Lombard list of the Central Bank of
Troika Dialog and VTB Capital are acting as Lead Managers and Joint Bookrunners on METALLOINVEST Bonds Offering.
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