OREANDA-NEWS. The book was closed for Aeroflot’s series BO-03 bonds worth RUB 5 bln. The bonds will mature 3 years from the date of placement. The order book was opened on April 1, 2013, with a coupon guidance of 8.75-9.00% per annum.

Extensive interest in Aeroflot’s bond issue meant that on the day the order book was closed it was possible to lower the initial book-building range to 8.50-8.75% per annum and then to 8.30-8.50% per annum.

During book-building, 62 investor bids were placed with the coupon rate falling between 8.30-8.80% per annum. Total demand for the BO-03 series bonds equalled RUB 15.2 bln. As of closing the order book was oversubscribed more than threefold.

Due to high demand, the coupon rate for the series BO-03 was set at 8.30% per annum. Given the market situation, cost of placement, coupon rate and investor demand, Aeroflot made the decision to accept 31 investor bids.

The technical placement of the issue will take place on April 4, 2013, on the Moscow Stock Exchange. The arranger and technical underwriter was Sberbank CIB.