Closing of Order Book for Issue of Tulskaya Region Bonds
OREANDA-NEWS. September 21, 2012. The order book for the issue of the government bonds of Tulskaya Region (government registration issue number RU34002TUL0, September 14, 2012) was closed.
Overall investor demand totaled more than RUB 10 bln, while RUB 5 bln in bonds were offered.
The issuer made the decision to fulfill 28 investor bids for a total sum of RUB 5 bln.
The technical conclusion of the purchase/sale agreements for the bonds will take place on September 25, 2012, on the MICEX.
The issuer set the coupon rate at 8.60% annually.
The bonds mature after a period of three years (1095 days) from the date of issue.
Tulskaya Region Governor Vladimir Gruzdev commented the placement, “I want to thank the Sberbank CIB team for the excellent work they did in organizing the placement of the Tulskaya Region bonds. Additionally, I would like to assure all investors that although Tulskaya Region is a relatively new player in the sub-federal debt market, investors can rest assured that the bonds will be serviced in strict accordance with the schedule and that Tulskaya Region will fulfill all of its obligations to investors.
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