Atomenergoprom completed placement of its bonds

The bond bid book was closed on 03.08.2010. Given a high demand for the bonds by investors (a total amount of bids exceeded RUB25bn), the issuer step down the coupon target rates from initial 7.75%-7.95% to final 7.50%-7.75% of interest. The marketing resulted in the issuer’s determining the interest rate of bond coupons 1-5 at 7.50%, with more than 130 bids by various investors met.
”In spite of the current volatility of markets and very short, three-day sales during massive vacations, investors demonstrated significant interest to securities of JSC Atomenergoprom. The resulted coupon rate reconfirms the status of JSC Atomenergoprom as a first-class borrower and issuer. We consider this deal very successful,” Kirill Komarov, the Director of JSC Atomenergoprom noted.
According to Nikolay Solomon, the Deputy Director General for Economics and Finance at SC Rosatom, “with the placement of a new issue of bonds the company returns to the public debt market and sets the yield curve at new levels. The placement of bond solves not only the task of diversification of JSC Atomenergoprom’s debt portfolio but also allows, on the whole, reducing interest costs of organizations of SC Rosatom through in-group financing system.”
The placement was organized by VTB Capital and Gazprombank. The issue co-organizers were RONIN LLC,  Bank Petrocommerce and Sberbank of Russia; co-underwriters were represented by SKB-Bank, BANK SOYUZ, Novikombank, CREDIT-SWISS MOSCOW, LOCKO-Bank and Baltinvestbank.
Bonds of JSC Atomenergoprom are rated at the investment level (ВВВ- by Standard&Poor’s, with “stable” outlook) and meet all criteria for putting on the REPO List of Bank of Russia.