PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) closed a bid book for the exchange-traded bonds of series BO-P04 in total amount of RUB 15 bn on March 30, 2016.
During marketing campaign the initial coupon rate (10.75-11.0%) was down to 10.5-10.75% with further reduction to 10.25-10.5% per annum. As a result of marketing campaign the coupon rate was set at 10.35% per annum – the lowest coupon rate among corporate marketable securities since June, 2014.
Nikolay Shulginov, Chairman of the Management Board – General Director of PJSC RusHydro, commented: “RusHydro is actively taking measures to improve the efficiency of the Group in all areas, including optimization of its debt portfolio. The achieved characteristics of new bond issue are a result of successful work of the Company in cooperation with the banks-partners on the bond market; they also demonstrate strengthening of the Russian financial market in the volatile economic environment”.
The date of technical placement of bonds is April 8, 2016.
VTB Capital, Sberbank CIB and Gazprombank act as lead managers of placement.