Rostelecom Announces Coupon Rate of 8.55% on Bond Issue
OREANDA-NEWS. November 08, 2012. OJSC Rostelecom (MICEX-RTS: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, announced that the coupon rate for a RUB 10 bln, series 17 bond issue has been set at 8.55% annually. The bonds have a maturity period of five years and a put option of three years after placement.
Active interest from investors in the bonds allowed the initial build-building coupon range to be lowered from 8.45-8.70% to 8.45-8.60% in the final hour of book-building. Thirty-two investor bids were received for the bonds with the coupon rate falling between 8.35-8.65%. Total demand for the bonds during book-building totaled RUB 13.6 bln. Taking into account the market situation, cost of the placement, coupon rate for the first coupon period, and investor demand, OJSC Rostelecom made the decision to accept twenty-three investor bids.
Settlements for the sale of the series 17 bonds will take place on the MICEX stock exchange on November 8, 2012.
The placement of series 15 bonds worth RUB 5 bln will depend on market conditions.
Arrangers: CJSC “VTB Capital”, GPB (JSC), Sberbank CIB1. Underwriter: CJSC UniCredit Bank
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