February 01, 2017 |
|State Transport Leasing Company (STLC) has set the final coupon guidance for a 10 billion ruble 15-year exchange bond at 11% annually, a banking source told PRIME on Wednesday.|
The new guidance corresponds to an 11.46% annual yield to a 7-year buyback offer.
The initial guidance was set at 11.48–11.68%. During the pre-marketing, the company aimed investors at the coupon guidance of 11.4–11.7%, which corresponds to an 11.90–12.22% annual yield to a 7-year buyback offer, and later the guidance was cut to 11.2–11.4%, which corresponds to an 11.68–11.9% annual yield to the offer, and further to 11–11.2% and 11–11.1%.
The issue carries quarterly coupons. Gazprombank, B&N Bank and Sovcombank act as the placement’s organizers. The technical placement is preliminary scheduled for February 9.
Issue: STLC, 001P-03
|Status||Country of risk||Maturity (option)||Amount||Issue ratings (M/S&P/F)|
|Full company name||State Transport Leasing Company|
|Country of risk||Russia|
|Country of registration||Russia|