27/07/2016
Press-release: First coupon rate for SIBUR Holding's Series 11 bonds set at 9.65% per annum
Moscow, 27 July 2016. On 26 July 2016, SIBUR Holding successfully closed the bookbuild for its Series 11 bonds in the amount of RUB 10 bn. With a coupon period of 182 days, the bonds have a tenor of 10 years and a put option in 3 years. The par value of the bonds is RUB 1,000 each. The offering price is 100% of the par value.
The original guidance for the first coupon rate ranged from 9.65 to 9.85%. The enthusiasm investors showed during the book building made it possible to revise the coupon guidance downwards three times. First, it was reduced to 9.65–9.75%, second – to 9.65–9.70%, and finally the book building set the first coupon rate at 9.65% per annum.
The total demand for the bonds exceeded RUB 21bn.
“In March 2016, SIBUR completed the offering of Series 10 bonds with the first coupon rate of 10.50% per annum, which ended up becoming a liquid benchmark for the subsequent public bond placements. The ongoing book building exercise has shown a sustainably high investor demand for SIBUR’s bonds despite the strong volatility in the financial markets, enabling the Company to revise the coupon down by 85 b.p. as compared to the previous issue,” commented Alexander Petrov, member of the Management Board and Managing Director for Economics and Finance.
The subscription book was closed with a discount of around 15 b.p. to the current rates of the Company’s secondary bonds and with the lowest coupon rate for three-year offerings on the corporate market since the early 2014.
The formal offering is scheduled to take place at MICEX on 3 August 2016.
Lead managers: Gazprombank and Sberbank CIB.
Placement agent: Sberbank CIB.
Другие новости этого раздела:
23/01/2024
Mosaic ожидает спрос на удобрения в Бразилии в объеме 46 миллионов тонн в этом году
24/09/2022
Первая партия низкоуглеродного аммиака отправилась из Абу-Даби в Германию
18/11/2021
Acron to Reduce UAN Output in Favour of Dry Fertilisers
24/10/2021
«Омский каучук» обновил производство кумола и изопропанола
«Сибур» одобрил гарантии финансирования «Амурского ГХК» на 10 млрд $
Mitsubishi Chemical покупает патент полиэфира из биомассы у Mitsui
23/07/2021
NikoMag will increase production capacity of its magnesium hydroxide plant
23/04/2021
Uniper закроет 10% потребности Германии в зеленом водороде
02/04/2020
Production stopped at fertiliser units at Taloja in Maharashtra
11/03/2020
LANXESS achieves full-year target for 2019
02/03/2020
The Mosaic Company reported a net loss of US$1.07 billion for full year 2019
12/02/2020
28/08/2019
Asian Helsinki Chemicals Forum will take place 24-25 oct 2019
24/05/2019
Helsinki Chemicals Forum took place in the capital of Finland
29/03/2019
Press release: Lukoil CEO and Iraq Prime Minister discuss future cooperation