July 12, 2017 | Cbonds
Russian stevedore company DeloPorts has placed 3.5 billion rubles of 5-year bonds with a coupon of 9.4% annually, the company said in a statement on Tuesday.
The coupon corresponds to a 9.62% annual yield to maturity.
Raiffeisenbank, Sovcombank, and Gazprombank acted as organizers of the placement.
DeloPorts has simultaneously offered to buy back 3 billion rubles of bonds placed in November 2015 at 13.8% before an offer scheduled for November 2018.
“The new 3.5 billion ruble issue of 5-year bonds allows us to prolong maturity of current liabilities of DeloPorts and to cut the cost of borrowing to 9.4% from 13.8%. The special feature of the deal is that the buyback yield was defined by the yield of placement of the new issue with a slight premium. As a result, investors used the offer for a total sum of 2.1 billion rubles,” the company said citing CEO of managing company Delo Andrei Bubnov.
Emission: DeloPorts LLC, 001P-01
|Status||Country of risk||Redemption (offer)||Volume||Emission Rating (M/S&P/F)|
Company: DeloPorts LLC
|Full company name||DeloPorts LLC|
|Country of risk||Russia|
|Country of registration||Russia|