OREANDA-NEWS. February 07, 2013. The order book for an issue by IDGC of the Urals of series BO-01 bonds worth RUB 3 bln was closed.

The order book was opened on January 28, 2013, with the first coupon rate ranging from 8.5-9.00% annually.

Strong investor demand for IDGC of the Urals’ first-ever bond issuance allowed the original book-building range to be reduced to 8.40-8.45% per annum on the day the order book was closed.

During bookbuilding, 22 investor bids were received with the coupon rate falling between 8.40% and 8.75% annually. The series BO-01 bonds were oversubscribed more than two-fold and total demand equalled RUB 6.7 bln.

As a result of high demand, the coupon rate for the series BO-01 bonds was set at 8.40% annually. Given the market situation, the placement price, the coupon rate, and the demand for the bonds, IDGC of the Urals decided to accept 12 investor bids.

The technical placement of the bonds will take place on January 31, 2013 on the MICEX stock exchange.

The placement was arranged by Sberbank CIB1 and VTB Capital.

[1] On the basis of CJSC “Sberbank CIB”

[2] Financing provided by OJSC “Sberbank of Russia”
 
Information for editors:
OJSC IDGC of the Urals (est. in February 2005) is a grid company responsible for energy transmission and technological connection of consumers to electric networks in Sverdlovsk, Chelyabinsk and Perm regions. As of 2011, revenues from services totaled RUB 54.6 bln, net profit reached RUB 2.5 bln (under RAS). Overall energy supply in 2011 amounted to 77.8 bln. kWh, productive supply totaled 71.6 bln. kWh, energy losses reached 6.2 bln. kWh. Common shares are traded on MICEX (Quotation list "A2"). Free float is about 20%. Moody's rating - Ba2 (Outlook Stable)/Aa2.

www.mrsk-ural.ru/en