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AO UniCredit Bank acted as a lead manager for a RUB 8bln bond issued by PJSC «MOESK»

On April 28, 2016 PJSC «MOESK» successfully placed BO-08 series bonds with the nominal value of 8 billion rubles with a maturity of 10 years and a put option in 3 years. AO UniCredit Bank acted as one of lead managers of the issue.

The nominal value of each bond was 1,000 rubles, the placement price — 100% of the nominal value.

The initial marketing range was 10.50 — 10.75%. The high demand from the market investors made it possible to revise the coupon guidance downwards two times at first to 10.30-10.40% and then to 10.30-10.35%. The book was closed with 10.30% final coupon rate (yield to put of 10.57% p. a.)

Investor base was highly diversified with over 50 accounts. The total demand amounted to more than 31 billion rubles with a 4x oversubscription. The issue had a wide distribution among investors — asset managers, banks, pension funds, subsidiaries of foreign banks, investment companies. The final spread to OFZ bonds was 118 b. p., which puts PJSC «MOESK» on a par with the leading issuers of the Russian bond market.

Among other lead managers were VTB Capital and Gazprombank.

12.05.2016 - 10:00
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