By Susanna Moon
Chicago, Oct. 7 – Sistema JSFC said it placed RUB 5 billion of 12½% 10-year series 001R-01 exchange traded bonds.
The bid book closed on Oct. 6, with the coupon targeted in the range of 12.9% to 13.25%, according to a company press release.
“Thanks to significant investor interest we were able to narrow the range twice to 12½%-12¾% and close the book at the lower end, setting the coupon at 12½%,” Vsevolod Rozanov, senior vice president of Sistema, said in the company press release.
Holders may redeem their bonds “at the point of expiration, three years from the date the bonds were placed,” the press release noted.
Proceeds will be used for investments and general corporate purposes.
Forty-two bids were received from potential investors during the bookbuilding period, with demand at more than RUB 10 billion, the press release noted.
Gazprombank and Rosbank are the co-lead managers.
The bonds will be placed on the Micex Stock Exchange on Oct. 13.
Sistema is a Russian conglomerate based in Moscow.
| Issuer: | Sistema JSFC
|
| Issue: | Notes
|
| Amount: | RUB 5 billion
|
| Maturity: | 10 years
|
| Coupon: | 12½%
|
| Lead managers: | Gazprombank and Rosbank
|
| Co-managers: | MTS Bank and East West United Bank SA
|
| Agent: | Gazprombank
|
| Pricing date: | Oct. 7
|
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