NLMK Closes Order Book for BO-13 Bond Issue
OREANDA-NEWS. NLMK (LSE: NLMK), the leading global steelmaking company, closed the order book for its BO-13 exchange bond issues with a value of RUB 5 billion, a maturity period of 10 years, and a put option in 4 years after the date of placement.
14 October 2013 was set as the starting date of the BO-13 series bond placement through public subscription at the Moscow Interbank Currency Exchange (MICEX).
In the course of marketing, book orders were placed by 55 investors for a total of RUB 15 billion.
NLMK has set the first coupon rate at 8.05% per annum. The rate of coupons 2-8 is equal to the rate of the first coupon. Given the market situation, the offering price, the coupon rate for exchange bonds and the current demand, NLMK made the decision to accept orders from 36 investors.
Proceeds from the placement of the bonds will be used for general corporate purposes.
VTB Capital, Gazprombank and Sberbank CIB acted as lead managers.
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