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The first coupon rate of Volgograd bonds is set at 12.56% per annum

October 16, 2014 | Cbonds

The first coupon rate of Volgograd Series 34007 bonds is set at 12.56% per annum, according to a report from BK Region, which is the Arranger of the placement. The Order Book for Volgograd bonds (state registration number RU34007VGG1 from 08.10.2014, the) was closed on October 10, 2014 at 15.00 CET. In total, 13 bids worth of 1.9 billion rubles were made. The range of accepted bids was 12.50-13.00%. The coupon guidance has been reduced from the original 12.30% -12.80% to the final 12.30-12.60%.

The placement is scheduled for October 16, 2014. The issue volume is 1 billion rubles. The issue tenor is 5 years. The face value is 1000 rubles per bond. The bonds are issued with the provided debt amortization: 20% is paid on the date of the 6th, 8th, 12th, 16th and 20th coupons’ payment. The terms of issue imply quarterly coupon payment. The first coupon rate is set by the issuer, the 2-8 coupon rates are equal to the first one; 9-12 coupon rates are equal to the first coupon one minus 0.1%; 13-16 coupon rates - to the first one minus 0.2%; 17-20 coupon rates - to the first one minus 0.3%. The issuer has a credit rating of Ba3 ("Stable" description) assigned by Moody's agency. General Agent: BK Region LLC

Issue: Volgograd, 34007

StatusCountry of riskMaturity (option)AmountIssue ratings (M/S&P/F)
redeemedRussia10/10/20191,000,000,000 RUB-/-/-

Company: Volgograd

Full company nameVolgograd city administration
Country of riskRussia
Country of registrationRussia

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