Demand for Series 01 bonds of Vodokanal-Finance reaches RUR3.1bn
December 15, 2010
Vodokanal-Finance, a daughter company of Vodokanal of St. Petersburg, finished bookbuilding and set the first coupon on Series 01 bonds at 8.8% based on bookbuilding results on December 13. All other coupons equate to coupon 1. Coupon guidance was released between 8.4% and 8.9% equating to yield guidance at 8.58%-9.1%.
The order book was open on December 2-13, 2010. Demand for the issue stood at RUR3.1bn. 17 bids were accepted by the issuer.
The issue was registered by the FFMS on November 16, 2010. The issue was assigned state registration number 4-01-36398-R. The company plans to issue RUR2bn in Series 01 bonds maturing in 5 years. The issue will be sold through public offering.
The proceeds will be used for funding construction of a sewer line in the north of St. Petersburg. Vodokanal of St. Petersburg is the guarantor on the issue. The issue is expected to be printed in the first half of December.
Bank Saint-Petersburg, BFA and Otkritie Bank are arrangers on the issue.
Issue — VODOKANAL-FINANS, 01
Country of riskRussia
Redemption (put/call option)
М/S&P/F— / — / —
Company — VODOKANAL-FINANS