By Susanna Moon
Chicago, July 14 - Globaltrans Investment plc said its Russian subsidiary OJSC New Forwarding Co. priced RUB 3 billion of five-year 9¼% ruble-denominated bonds.
The bonds may be amortized and are callable in two-and-a-half years.
Proceeds will be used to refinance debt and for general corporate purposes.
VTB Capital arranged the deal, and OTP Bank was co-arranger.
Settlement on Micex is scheduled for Friday.
The issue was "several times oversubscribed and priced tangibly below the initial target range," according to a company press release.
On April 12, Globaltrans said the board of directors of New Forwarding approved issuing up to RUB 6 billion of five-year bonds.
The bonds were to be issued in two tranches of RUB 3 billion each.
Globaltrans is a Limassol, Cyprus-based freight rail company with operations in Russia, the Commonwealth of Independent States countries and the Baltics.
| Issuer: | OJSC New Forwarding Co.
|
| Guarantor: | Globaltrans Investment plc
|
| Issue: | Ruble-denominated bonds
|
| Amount: | RUB 3 billion
|
| Maturity: | Five years
|
| Coupon: | 9¼%
|
| Price: | Par
|
| Yield: | 9¼%
|
| Call option: | After two-and-a-half years
|
| Agents: | VTB Capital (lead) and OTP Bank (co-arranger)
|
| Pricing date: | July 14
|
| Settlement date: | July 16
|
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