April 26, 2017 |
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.
Emission: PIK Group, BO-P02
|Status||Country of risk||Redemption (offer)||Volume||Emission Rating (M/S&P/F)|
Company: PIK Group
|Full company name||Public Joint Stock Company "PIK"(First Mortgage Company)|
|Country of risk||Russia|
|Country of registration||Russia|
|Industry||Construction and development|