By Marisa Wong
Morgantown, W.Va., Feb. 13 – Globaltrans Investment plc said Russian wholly owned subsidiary JSC New Forwarding Co. priced RUB 5 billion of five-year exchange-traded bonds.
The coupon was set at 7¼% following a book-building process, lowered from initial guidance of 7½% to 7¾% due to investor interest.
The order book was more than five times oversubscribed, with total demand exceeding RUB 27 billion, according to a news release. Orders came from asset managers, banks, insurance companies and retail investors.
The transaction was led by JSC VTB Capital and PJSC Rosbank.
Proceeds will be used to refinance debt and for general corporate purposes.
Settlement is slated for Feb. 20.
Globaltrans is a private freight rail transportation group operating in Russia, the CIS and Baltic countries.
| Issuer: | JSC New Forwarding Co.
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| Issue: | Exchange-traded bonds
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| Amount: | RUB 5 billion
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| Maturity: | Five years
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| Coupon: | 7¼%
|
| Bookrunners: | JSC VTB Capital and PJSC Rosbank
|
| Price talk: | 7½%-7¾%
|
| Settlement date: | Feb. 20
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