SOLLERS-FINANCE to sell debut bonds in first decade of February

January 12, 2017 - Cbonds

 

SOLLERS-FINANCE plans to build an order book for Series 01 bonds and sell them in the first ten days of February, according to Sovcombank's issue materials.

Coupon guidance is set at 12.25% (YTM 12.82%). Coupons 2-12 equate to coupon 1. Coupon periods last 91 days.

The par issue amount is RUB 2.5bn. The initial amount on offer will be about RUB 2bn; the remaining part will be placed within one year from the initial placement. The issue has a 5-year tenor (1.820 days), according to issue documents. The bonds amortize and will be redeemed early within 3 years from the start of placement: 15% instalments will be repaid on coupon payment dates 7-11, and 25% of par value will be repaid with payment of Coupon 12.

Sovcombank is the arranger of the transaction.
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Issuer, issue numberSollers finance, 01
Type of debt instrumentDomestic bonds
Redemption typeAmortising
Issue statusoutstanding
Type of placementPublic
Par, currency of issueRUR 1,000
Amount2,500,000,000
Registration date11/17/2016
State registration number4-01-00303-R
ISINRU000A0JXFC2
Start of placement02/14/2017
End of placement02/14/2017
Date of circulation start02/14/2017
Initial issue price100
Yield at pricing12.82
CouponCoupons 1-12: 12.25%
Coupon frequency4 time(s) per year
Settlement date02/14/2017
Maturity date02/11/2020
Issue ManagersBookrunner: Sovcombank
Trading floorMoscow Exchange, RU000A0JXFC2 (Third level, 02/14/2017)
Issuer: Sollers finance
Outstanding issues:
1 issuesRUR2,500,000,000
Issuer rating:
Fitch RatingsB+/StableLT Int. Scale (foreign curr.)12/08/2016
Fitch RatingsWithdrawn/National Scale (Russia)02/06/2017
Fitch RatingsB+/StableLT Int. Scale (local curr.)12/08/2016