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PIK Group sets 10 bln rbl bond coupon guidance at 11.25%

April 26, 2017 | Prime

Russian real estate developer PIK Group has set the guidance for the first coupon rate of 10 billion ruble 5-year exchange bonds at 11.25% annually, which corresponds to an 11.73% annual yield to maturity, a banking source told PRIME on Wednesday.

The initial guidance for the first coupon rate stood at 11.25–11.50%.

The company is collecting bids on Wednesday. The technical placement is preliminary scheduled for Friday.

The issue carries quarterly coupons and an 8% amortization of debt on dates of coupons from ninth to 19th, and a 12% amortization on the date of the 20th coupon.

BCS Global Markets, Aton, Brokerage Company Region, VTB Capital, SKS Bank and Sovcombank are organizers. The funds will be used to refinance the current debt.

Issue: PIK Group, BO-P02

StatusCountry of riskRedemption (offer)VolumeEmission Rating (M/S&P/F)
outstandingRussia04/22/202210,000,000,000 RUB -/-/-

Company: PIK Group

Full company namePublic Joint Stock Company "PIK"(First Mortgage Company)
Country of riskRussia
Country of registrationRussia
IndustryConstruction and development


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