The bonds mature in 10 years from the date of placement. The bonds are subject to put option in 2.5 years.
The benchmark coupon rate for the first period was set in the range of 13.00%-13.25% per annum, which corresponds to yield to put (2.5-year put option) in the range of 13.42%-13.69% per annum. The coupons will be paid on a half-yearly basis.
During marketing campaign the initial coupon rate was down to 12.75%-13.00% with further reduction to 12.75%-12.85% per annum.
During the book building process the Company received 20 applications from investors. As a result of marketing campaign RusHydro set the first coupon rate at 12.75% per annum. The rate of 2-5 coupons was set at the same level.
Considering market conditions, price of placement, coupon rate and demand for bonds RusHydro decided to place the bonds in total amount of RUB 10 bn.
The start date of bonds placement is April 28, 2015. Sberbank CIB has been retained as an underwriter of the bonds placement. Sberbank CIB and VTB Capital act as lead managers of placement.
The bond issue was registered by the Bank of Russia Financial Markets Service on December 27, 2012 (state registration number 4-09-55038-E).
См. также:
На Новосибирской ГЭС приток увеличился втрое за неделю
О сцеплении основания с материалами покрытия