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GTLK placed series 02 bonds worth RUR 5 bln

February 4, 2013
State Transport Leasing Company (GTLK) completed the placement of series 02 bonds worth RUR 5 bln on February 1. MICEX registered 73 transactions with the bonds. On January 29, the issuer placed series 01 issue in amount of RUR 5 bln. The first coupon rate was set by the issuer at 10% per annum. Demand for series 01 bonds exceeded RUR 14.3 bln. Demand for series 02 issue was over RUR 8.5 bln. GTLK representative has told Cbonds that investors submitted more than 50 bids for series 01 and around 30 for series 02. Rates offered in the bids 9.5 ranged between 9.5% and 10.5% p.a. "Results of the placement were predictable," the source comments. "We are satisfied with both the offering, and the rate. Market conditions at the time of placement were favourable, which encouraged investors to be more active. In addition, the interest on the part of investors was expected due to attractiveness of GTLK and its key performance predictions." VTB Capital arranged the deal. The proceeds will be used for various projects in transportation industry and diversification of the loan portfolio. The yield amounted to 10.25% p.a. at placement. The tenor is 5 years. Coupon is payable twice a year. The issue carries a put option available in 3 years. The yield guidance stood at 10.25% - 10.76% p.a.; the coupon guidance was 10% - 10.5%.
Issue — STLC, 02
  • Status
  • Country of risk
  • Redemption (put/call option)
    *** (***)
  • Amount
    5,000,000,000 RUB
  • М/S&P/F
    — / — / —