February 17, 2017 |
|Demand for a 3 billion ruble exchange bond issue of Russia’s pumps and modular equipment producer Hydromashservice amounted to 11 billion rubles, the company said in a statement on Friday.|
The company collected bids on Thursday. Initially, the first coupon guidance was set at 11.00–11.25% annually, corresponding to an 11.3-11.57% yield. Later, the guidance was reduced to 10.75-10.8% annually, corresponding to an 11.04-11.09% yield. Finally, the company set the first coupon guidance at 10.75% annually.
Hydromashservice has offered the 10-year exchange bonds of a BO-01 series carrying semiannual coupons and having a 3-year buyback offer. Raiffeisenbank, Renaissance Capital and Sovcombank act as organizers of the placement. The technical placement is scheduled for February 21.
The company is part of oil and gas pump manufacturer Hydraulic Machines & Systems Group (HMS Group), and other companies of HMS Group – HMS Livgidromash, HMS Neftemash, and Sibneftemash – as well as the group itself act as guarantors.
Issue: Hydromashservice, BO-01
|Status||Country of risk||Maturity (option)||Amount||Issue ratings (M/S&P/F)|
|Full company name||JSC "HYDROMASHSERVICE"|
|Country of risk||Russia|
|Country of registration||Russia|