MMK | 23 November 2009 г. | 10:35

MMK announces results of its RUR 5 bln bonds placement at MICEX

MMK announces results of its RUR 5 bln bonds placement at MICEX

On November 19, 2009 MMK placed its RUR 5 bln bonds with the maturity period of 1092 days (3 years), 1-year offer and the coupon period of 182 days.

The coupon rate was set based on the results of a coupon rate tender held at MICEX. The total value of demand from investors equaled to RUR 19.9 bln which translates into almost 4x oversubscription. The overall number of bids was 255.

As the result the annual coupon rate was set at 9.45% (the rate of the second coupon equals the first coupon rate). The rate is the lowest among other issuers of rouble bonds in the sector issued in 2009.

The proceeds from the placement of the bonds to MMK will be used for general corporate purposes.

The managers of the placement are OOO “RENAISSANCE CAPITAL – FINANCIAL CONSULTANT”, OAO AKB “ROSBANK”, Investment Company RFC and OAO “URALSIB”.

Source: Metal Supply and Sales
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