Russia’s Otkritie Financial Corporation (FC) Bank plans to collect bids for 10 billion ruble 6-year exchange bonds on Wednesday, a banking source told PRIME on Monday.
The guidance for the first coupon rate is set at 10.3–10.5% annually, which corresponds to a 10.56–10.77% annual yield to a 3-year buyback offer. The issue carries semiannual coupons.
The technical placement is preliminary scheduled for Friday. The bank acts as the organizer.
The securities will be offered under a 100 billion ruble exchange bond program, registered in March 2015.
The bank now has eight issues of exchange and classic bonds totaling 57 billion rubles in circulation.
|Issuer, issue number||Otkritie Bank, BO-P03 |
|Type of debt instrument||Domestic bonds |
|Issue status||outstanding |
|Type of placement||Public |
|Par, currency of issue||RUR 1,000 |
|Registration date||03/14/2017 |
|State registration number||4B020302209B001P |
|Start of placement||03/24/2017 |
|End of placement||03/24/2017 |
|Date of circulation start||03/24/2017 |
|Initial issue price||100 |
|Yield at pricing||10.35 |
|Coupon||Coupons 1-6: 10.1%, coupons 7-12 - set by the issuer |
|Coupon frequency||2 time(s) per year|
|Settlement date||03/24/2017 |
|Maturity date||04/10/2023 |
|Issue Managers||Bookrunner: Otkritie Bank |
|Trading floor||Moscow Exchange, RU000A0JXLR8 (First level, 03/24/2017) |