Demand for Series 03 bonds of Rosvodokanal stood at RUR 8.4bn
November 16, 2010
OOO RVK-Finance, a subsidiary of Rosvodokanal, sold Series 03 bonds in full on November 15, the issuer said in a statement. The issuer opened an order book on Series 03 bonds on October 22. The book closed at 15:00 (Moscow) on November 12. Demand for the issue was over RUR8.4bn with the number of submitted bids reaching 47.
The MICEX registered 69 transactions with the bonds. The first coupon rate on the issue was set at 9%. Coupons 2-6 equal coupon 1. Earlier the company slashed coupon guidance on Series 03 bonds to 9%-9.5% (equating to yield to 3-year put at 9,2%-9,73%) from 9.25%-9.75% (equating to yield to 3-year put at 9.45%-10%).
The issue amounting to RUR3bn matures in 5 years. The bonds carry semi-annual coupons. OOO RVK-Invest, OOO Krasnodar Vodokanal, OOO Tyumen Vodokanal, OOO Kaluga Region Vodokanal guarantee the issue. The issue complies with the CBR’s criteria for Lombard List. The proceeds will be used for refinancing purposes and for funding the group’s investment projects.
Arrangers: Alfa-Bank, MDM Bank;
Underwriters: Credit Bank of Moscow, Promsvyazbank, RONIN;
Co-underwriters: IFC Almaz, IFD-Capital, Russian Regional Development Bank, Derzhava Bank, IC Center Capital, Sovcombank, BCS, Investtorgabnk, Zenit Bank.
Issue — RVK-Finance, 03
Country of riskRussia
Redemption (put/call option)
М/S&P/F— / — / —
Company — RVK-Finance
Full nameRVK-Finance LLC