By Susanna Moon
Chicago, March 19 - Metalloinvest said it priced a total of RUB 25 billion of 10-year debut non-convertible interest-bearing documentary bonds with a coupon of 9%.
On Friday Metalloinvest priced RUB 10 billion of 10-year debut non-convertible interest-bearing documentary bonds, series 6, with a coupon of 9%. The bonds priced below the announced price range of 9½% to 10%, according to a press release.
Russian and international investors placed 52 orders totaling RUB 27 billion for the series 6 bonds, which puts the books oversubscribed at 2.7 times, the release noted.
The company previously priced RUB 15 billion of 10-year debut non-convertible interest-bearing documentary bonds, series 1 and 5, with a coupon of 9%. The series 1 and 5 bonds also priced below the announced price range of 9½% to 10%.
Russian and international investors placed 98 orders totaling RUB 48 billion for the series 1 and 5 bonds, which puts the books oversubscribed at 3.2 times, a prior release said.
All three series of notes are putable in three years.
Settlement for the series 6 bonds will take place Thursday upon bond placement on Micex. Settlement for the series 1 and 5 bonds was slated for Monday upon bond placement on Micex.
Secondary trading for all three series of notes is expected to begin on April 12.
Troika Dialog and VTB Capital are the lead managers and bookrunners.
The issuer is a Moscow-based mining and metallurgy company.
| Issuer: | Metalloinvest
|
| Securities: | Notes
|
| Amount: | RUB 25 billion
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| Maturity: | 10 years
|
| Coupon: | 9%
|
| Put option: | After three years
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| Bookrunners: | Troika Dialog and VTB Capital
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| Trade date: | March 15 for series 1 and 5 bonds, March 16 for series 6 bonds
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| Settlement date: | March 19 for series 1 and 5 bonds, March 22 for series 6 bonds
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