OREANDA-NEWS. NLMK, one of the leading global steel producers, has closed the order book for the acquisition of its series BO-13 bonds worth RUB 5 bln. The bonds will mature 10 years from placement and have a put option 4 years after the sale.

The start date of the placement of the series BO-13 under a public offering on the MICEX stock exchange has been set for October 14, 2013.

During bookbuilding, 55 investor bids were received for the bonds with the coupon rate falling between 7.97% and 8.50% annually. Investor demand amounted to RUB 15 bln. The bookbuilding range for the coupon was lowered four times.

Upon conclusion of book-building the first coupon was set at 8.05% annually. The rates for the 2nd-8th coupons are equal to those of the first coupon. Given the market situation, placement price, coupon rate, and demand for the bonds, NLMK made the decision to accept 36 investor bids.

Proceeds from the placement will be used for general corporate purposes. The placement was arranged by VTB Capital, Gazprombank and Sberbank CIB.