By Susanna Moon
Chicago, Aug. 5 – Lenta Ltd. said it set the initial coupon rate on its RUB 5 billion of 10-year BO-03 series bonds at 12.4%.
The indicative coupon was set in the range of 12.2% to 12.7%, and the final interest rate was set at 12.4% at the close of book building, according to a company notice.
Interest for the first 30 months will be payable semiannually, with the first coupon payment due six months after the initial settlement date. All five coupon payments will bear the same rate of 12.4%, the release noted.
The BO-O3 series bonds have a 30-month put option from placement and a nominal value of RUB 1,000 each.
Order books opened Aug. 3 and closed Aug. 4. The bonds will be placed on MOEX and settled Aug. 6.
Proceeds will be used to provide the company additional financial flexibility to accelerate its store opening program in 2015 and beyond.
VTB Capital CJSC and JSC Raiffeisenbank are the arrangers.
The BO-O3 bonds are Lenta's fourth bond series traded on MOEX. Lenta previously issued RUB 10 billion of bond series 1, 2 and 3 in March 2013. In addition, the company has registered an exchange bonds program for RUB 28 billion.
Lenta is a retail company based in St. Petersburg.
| Issuer: | Lenta Ltd.
|
| Issue: | BO-03 series bonds
|
| Amount: | RUB 5 billion
|
| Maturity: | 10 years
|
| Agents: | VTB Capital CJSC and JSC Raiffeisenbank
|
| Coupon: | 12.4% for first five coupon payments
|
| Put option: | After 30 months
|
| Pricing date: | Aug. 4
|
| Settlement date: | Aug. 6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
