18.11.2015, 00:02
Price of Additional Placement of Komi Republic's Bonds to Equal 99.64%
OREANDA-NEWS. The order book was closed for the purchase of the Komi Republic's 2015 republican bonds worth RUB 5 bln as part of the additional placement of its six-year series 35012 bonds. The nominal value of one bond is equal to 1,000 roubles.
During book building the initial guidance range for the price of the additional placement was increased three times. The final price of the additional placement is 99.64% of the nominal, which corresponds to a yield to maturity of 12.29% per annum. Previously the guidance was raised to 99.5-100% of the nominal, which corresponded to a yield to maturity of 12.15-12.34% per annum; 99-99.5% of the nominal, which corresponded to a yield to maturity of 12.34-12.53% per annum; and 98.5-99% of the nominal, which corresponded to a yield to maturity of 12.53-12.73% per annum. The initial guidance range was 98-98.5% of the nominal value of the bonds, which corresponded to a yield to maturity of 12.73-12.93% per annum.
During book building investors submitted 37 bids. Total demand exceeded the nominal volume of the issue by 2.6 times and amounted to over RUB 13 bln. The issuer decided to set the additional placement price at 99.64% of the nominal and accepted 20 bids.
The bonds have an amortised repayment structure: 15% of their nominal value will be redeemed on the date of payment of the second, fourth, seventh and ninth coupons, and 20% on the date of the eleventh and twelfth coupons.
The placement was organised by Sberbank CIB1, ATON, VTB Capital, Gazprombank and Sovcombank.
The technical placement of the issue is scheduled for November 17, 2015 and will take place on the Moscow Exchange.
During book building the initial guidance range for the price of the additional placement was increased three times. The final price of the additional placement is 99.64% of the nominal, which corresponds to a yield to maturity of 12.29% per annum. Previously the guidance was raised to 99.5-100% of the nominal, which corresponded to a yield to maturity of 12.15-12.34% per annum; 99-99.5% of the nominal, which corresponded to a yield to maturity of 12.34-12.53% per annum; and 98.5-99% of the nominal, which corresponded to a yield to maturity of 12.53-12.73% per annum. The initial guidance range was 98-98.5% of the nominal value of the bonds, which corresponded to a yield to maturity of 12.73-12.93% per annum.
During book building investors submitted 37 bids. Total demand exceeded the nominal volume of the issue by 2.6 times and amounted to over RUB 13 bln. The issuer decided to set the additional placement price at 99.64% of the nominal and accepted 20 bids.
The bonds have an amortised repayment structure: 15% of their nominal value will be redeemed on the date of payment of the second, fourth, seventh and ninth coupons, and 20% on the date of the eleventh and twelfth coupons.
The placement was organised by Sberbank CIB1, ATON, VTB Capital, Gazprombank and Sovcombank.
The technical placement of the issue is scheduled for November 17, 2015 and will take place on the Moscow Exchange.
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