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Published on 6/27/2016 in the Prospect News Emerging Markets Daily.

S&P rates Samara bonds BB

S&P said it assigned its BB long-term global scale issue rating and ruAA Russia national scale rating to Samara Oblast’s proposed RUB 10 billion eight-year senior unsecured bond.

“We understand that Samara Oblast (BB/negative/--; Russia national scale ruAA) plans to issue the bond on July 1,” S&P said in a news release.

The bond will have 32 quarterly fixed-rate coupons and an amortizing repayment schedule. The coupon rate will be disclosed at the time of issuance.

According to the redemption schedule, 10% of the bond is to be repaid in 2020, 15% in 2021, 25% in 2022, 25% in 2023 and the remaining 25% in 2024, S&P noted.


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