Rate of 1st Coupon for Krasnoyarsk Region’s Bonds Set at 11,50%
OREANDA-NEWS. October 03, 2014. The order book was closed for the purchase of the Krasnoyarsk Region’s year 2014 government bonds – certificated bearer securities with a fixed coupon yield and an amortised principal. The bond issue amounts to RUB 8.25 bln. The government registration number of the issue is RU34009KNA0. The bonds have a 1,456 day maturity period.
The initial guidance range for the 1st coupon rate was 11.50-11.90% annually, but was lowered twice during the pre-book building period. The final coupon guidance was 11.50% annually. The rates for coupons 2-8 are equal to the 1st coupon rate.
The bonds have an amortised repayment structure: 20% of their nominal value will be redeemed on the date of payment of the 4th coupon, 20% – on the date of payment of the 6th coupon, and 60% – on the date of payment of the 8th coupon. The nominal value of one bond is equal to 1,000 roubles.
During book building, 67 investor bids were received. Around 62% of demand was from credit organisations, the remaining demand came from asset management companies and professional securities market participants. Total demand exceeded the nominal volume of the issue by 2.3 times and amounted to around RUB 18.9 bln. The issuer decided to accept 57 bids to a total of RUB 8.25 bln.
The technical placement of the issue is planned for October 6, 2014.
Organisers: Sberbank CIB1, VTB Capital, and OTKRITIE Financial Corporation.
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