Russian Regional Devt Bk sets bond guidance at 8.5% - PRIME
October 4, 2017
Russian Regional Development Bank (RRDB), owned by oil company Rosneft, has set the first coupon final guidance for 10 billion ruble 3-year exchange bonds at 8.5% annually, a banking source told PRIME on Wednesday.
The guidance corresponds to an 8.68% annual yield to maturity.
The initial coupon guidance for the issue amounted to 8.6–8.8% annually, which corresponds to an 8.78–8.99% annual yield to maturity; it was later reduced to 8.5–8.6% annually, corresponding to a yield of 8.68–8.78%.
Bids are collected on Wednesday. The technical placement is preliminarily scheduled for October 10.
The issue will carry semiannual coupons.
VTB Bank, Sberbank CIB, and brokerage company Region are the organizers.
Issue — RRDB, 001P-01
Country of riskRussia
Redemption (put/call option)
М/S&P/F— / — / —
Company — RRDB
Full nameJoint Stock Company "Russian regional development bank"