May 23, 2017 |
|Russia’s Volgograd Region plans to offer 10 billion ruble 7-year bonds on June 2, a banking source told PRIME on Tuesday.|
The guidance for the first coupon rate is set at 9.2–9.5% annually, which corresponds to an 8.92-9.24% yield to maturity.
The issue envisages amortization of 10% on the dates of the 17th and 19th coupons; of 15% on the dates of the 21st and 23rd coupon, of 20% on the date of the 25th coupon and of 30% on the date of the 28th coupon. The first coupon period is 100 days, and the 2nd to 28th periods will last 91 days.
The rates of the 2nd to 4th coupons are similar to the first coupon rate, of 5th to 8th coupons are the first coupon rate minus 0.25% annually, of 9th to 12th coupons are the first coupon rate minus 0.5% annually, of 13th to 16th are the first coupon rate minus 0.75% annually, of 17th to 20th are the first coupon rate minus 1% annually, of 21st to 24th are the first coupon rate minus 1.25% annually, and of 25th to 28th are the first coupon rate minus 1.5% annually.
VTB Capital, Sovcombank and Sberbank CIB are the organizers.
Company: Volgograd region
|Full company name||Committee of Finance of the Volgograd region|
|Country of risk||Russia|
|Country of registration||Russia|