By Susanna Moon
Chicago, Feb. 5 - HMS Group said it placed RUB 3 billion of 10.1% five-year corporate bonds issue of ZAO Hydromashservice, the main operational subsidiary of the group.
The coupon was set at the low end of 10% to 10¼% price guidance, according to a company press release.
The bonds have a three-year put option with the coupon rate of 10.1% set for the first six interest periods.
VTB Capital and Sberbank CIB are the lead arrangers.
Despite market volatility, the issue was oversubscribed, the release noted.
"I'm very pleased with the results," Kirill Molchanov, first deputy general director and chief financial officer of HMS Group, said in the release.
"Though the issue was placed in a very short time on a volatile market, we managed to place the whole issue and received the rate as projected."
Moscow-based HMS Group is a pump manufacturer and provider of flow control and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors.
| Issuer: | HMS Group
|
| Issue: | Corporate bonds
|
| Amount: | RUB 3 billion
|
| Maturity: | Five years
|
| Coupon: | 10.1%
|
| Lead arrangers: | VTB Capital and Sberbank CIB
|
| Settlement date: | Feb. 5
|
© 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.
