Demand for Russian Post’s bond exceeds 5 bln rbl offering threefold

May 19, 2017 - Prime

 

Demand for 5 billion ruble 10-year exchange bonds of Russian Post exceeded the offering amount threefold, the company said in a statement Friday.

The company collected bids on Thursday. The coupon rate was set at 8.55% annually, which corresponds to a 8.73% annual yield.

The issue carries semiannual coupons.

VTB Capital, Otkritie Financial Corporation (FC) Bank, and Raiffeisenbank were appointed as organizers, while Alfa-Bank, Sviaz-Bank, and Sovcombank as co-organizers.
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Issuer, issue numberRussian Post, BO-001P-02
Type of debt instrumentDomestic bonds
Issue statusoutstanding
Type of placementPublic
Par, currency of issueRUB 1,000
Amount5,000,000,000
Registration date05/02/2017
State registration number4B02-02-00005-T-001P
ISINRU000A0JXRD5
Start of placement05/23/2017
End of placement05/23/2017
Date of circulation start05/23/2017
Initial issue price100
Yield at pricing8.73
CouponCoupons 1-8: 8.55%, coupons 9-20 are set by the issuer
Coupon frequency2 time(s) per year
Settlement date05/23/2017
Maturity date05/11/2027
Issue ManagersBookrunner: Raiffeisen Bank, Otkritie Bank, VTB Capital Joint Book-Running Manager: Sovcombank, Sviaz-Bank, Alfa Bank
Trading floorMoscow Exchange, RU000A0JXRD5 (Third level, 05/02/2017)
Issuer: Russian Post
Issuer profile:

Postal network of the Russian Federation provides postal services throughout the country including all towns and rural settlements. Russian Post represents 85 branches, 40 000 post offices with 39... more

Outstanding issues:
10 issuesRUB38,100,000,000
Issuer rating:
Fitch RatingsBBB-/StableLT Int. Scale (foreign curr.)12/16/2016
Fitch RatingsWithdrawn/National Scale (Russia)03/31/2017
Fitch RatingsBBB-/StableLT Int. Scale (local curr.)12/16/2016
National Rating AgencyAAA/StableNational scale (Russia)10/28/2016
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