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STLC sets final 10 bln rbl bond coupon guidance at 11%

February 01, 2017 | Prime

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

StatusCountry of riskMaturity (option)AmountIssue ratings (M/S&P/F)
outstandingRussia01/22/203210,000,000,000 RUB-/-/BB+

Company: STLC

Full company nameState Transport Leasing Company
Country of riskRussia
Country of registrationRussia
IndustryFinancial institutions


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