OREANDA-NEWS. The order book was closed for the purchase of the government bonds of the Komi Republic. 5 million bonds out of a total of 11 million are proposed for placement (government registration number RU35012KOM0 from June 22, 2015), with a maturity of 6 years and semi-annual coupon payments. The nominal value of one bond is equal to 1,000 roubles.

Book building took place at the placement price. The guidance range for the placement price was 95.25-95.75% of the nominal value of the bonds, which corresponds to a yield to maturity of 13.74-13.93% per annum.

The initial yield to maturity guidance was reduced four times. The final yield range was 12.99% per annum, which corresponds to a price of 97.75% of the nominal value.

The bonds have an amortised repayment structure: 15% of their nominal value will be redeemed on the date of payment of the 2nd coupon, 15% on the date of payment of the 4th coupon, 15% on the date of payment of the 7th coupon, 15% on the date of payment of the 9th coupon, 20% on the date of payment of the 11th coupon, and 20% on the date of payment of the 12th coupon.

The issuer set the 1st coupon at 12% per annum. The 2nd coupon rate is equal to the first coupon. The rate of the 3rd and 4th coupons is 11.9% per annum, 5th and 6th coupons - 11.8% per annum, 7th and 8th coupons - 11.7% per annum, 9th and 10th coupons - 11.6% per annum, and 11th and 12th coupons - 11.5% per annum.

During book building, 46 investor bids were received. Total demand exceeded the nominal volume of the issue by 7 times and amounted to over RUB 36 bln. The issuer decided to accept 39 bids to a nominal sum of RUB 5.0 bln. The placement price was set at 97.75% of the nominal value of one bond.

The technical placement of the issue is planned for July 1, 2015 and will take place on the MICEX. Organisers: Sberbank CIB, VTB Capital and Gazprombank.