By Marisa Wong
Los Angeles, July 19 – Sistema PJSFC said it completed the bookbuilding for its RUB 10 billion series 001Đ-11 bonds and set the coupon for the 10-year bonds at 9.4%.
Alfa-Bank, BCS Global Markets, Credit Bank of Moscow, Gazprombank, Otkritie Bank, Rosbank, Sberbank CIB, Solid and VTB Capital acted as lead arrangers of the placement. MTS Bank acted as joint lead arranger. Gazprombank was the placement agent.
The bonds are putable in four years.
The offering generated strong investor interest, with demand exceeding RUB 20 billion, according to a press release. More than 250 investors participated in the offering, including Russian state and private banks, domestic and international investment funds and asset managers as well as brokerage companies and retail investors.
“Sistema has completed its third successful rouble bond offering of the year. Initial demand was twice the size of the offering. A wide range of institutional and retail investors participated in the offering. The funds raised from the placement will be used to refinance existing debt portfolio,” vice president and chief financial officer Vladimir Travkov said in the release.
Sistema is a Moscow-based diversified holding company.
| Issuer: | Sistema PJSFC
|
| Issue: | Series 001Đ-11 bonds
|
| Amount: | RUB 10 billion
|
| Maturity: | 3,640 days
|
| Arrangers: | Alfa-Bank, BCS Global Markets, Credit Bank of Moscow, Gazprombank, Otkritie Bank, Rosbank, Sberbank CIB, Solid and VTB Capital (lead); MTS Bank (joint lead); Gazprombank (placement agent)
|
| Coupon: | 9.4%
|
| Put option: | After four years
|
| Announcement date: | July 19
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