By Rebecca Melvin
New York, March 28 – Russia’s Sistema PJSFC priced RUB 10 billion of series 001P-10 exchange-traded bonds with a 10-year maturity at an initial coupon of 9.9%, according to a company announcement.
The bonds have a put option after 3.5 years, and the yield to put is 10.14%.
Alfa Bank, Aton, BCS Global Markets, Credit Bank of Moscow and Solid were lead arrangers of the bonds, which will be included in the Level 1 listing level on the Moscow Exchange, and MTS Bank and East West United Bank SA were joint lead arrangers.
Proceeds are being used to refinance existing debt.
Sistema is a Moscow-based diversified holding company.
| Issuer: | Sistema PJSFC
|
| Issue: | Series 001P-10 exchange-traded bonds
|
| Amount: | RUB 10 billion
|
| Maturity: | 10 years
|
| Lead arrangers: | Alfa Bank, Aton, BCS Global Markets, Credit Bank of Moscow and Solid
|
| Joint lead arrangers: | MTS Bank and East West United Bank SA
|
| Coupon: | 9.9%
|
| Put: | After 3.5 years
|
| Yield to put: | 10.14%
|
| Announcement date: | March 28
|
| Settlement date: | March 7
|
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