By Rebecca Melvin
Concord, N.H., Sept. 17 – Etalon Group plc priced RUB 10 billion 9.1% bonds with a duration of 3.4 years, according to a company release.
The deal, issued by Etalon Group subsidiary Leader-Invest, was initially announced in the amount of at least RUB 8 billion.
The bonds pay coupons quarterly, with an amortized repayment schedule starting from the 12th coupon.
AK Bars Bank, Alfa-Bank, BCS Global Markets, Veles Capital, VTB Capital, Gazprombank, Bank Derzhava, Bank Zenit, ITI Capital, Univer Capital, Russian Agricultural Bank, Raiffeisenbank, Region BC, SberCIB, Sinara Investment Bank, Solid IF, Tinkoff Bank and Expobank were organizers of the placement. The placement agent was Bank Otkrytie.
Book-building and closing took place on Sept. 16, and the bonds will be listed for trading on the Moscow Exchange on Sept. 21.
The company said interest in the bonds was strong, with total demand exceeding the initial planned volume by more than two times.
Proceeds will be used to expand the company’s project portfolio as part of the group’s business development strategy.
The real estate development and construction company operates in Saint-Petersburg and Moscow and is headquartered in Nicosia, Cyprus.
| Issuer: | Etalon Group plc
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| Issue: | Bonds
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| Amount: | RUB 10 billion
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| Arrangers: | AK Bars Bank, Alfa-Bank, BCS Global Markets, Veles Capital, VTB Capital, Gazprombank, Bank Derzhava, Bank Zenit, ITI Capital, Univer Capital, Russian Agricultural Bank, Raiffeisenbank, Region BC, SberCIB, Sinara Investment Bank, Solid IF, Tinkoff Bank and Expobank
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| Placement agent: | Bank Otkrytie
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| Coupon: | 9.1%
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| Duration: | 3.4 years
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| Closing date: | Sept. 16
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| Listing date: | Sept. 21
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