On 22 January 2020, SUEK finalised book-building for the placement of SUEK-Finans 10-years rouble-denominated bonds within the 001P-05R series, with the nominal value of RUB 30 billion and a coupon rate of 6.9% per annum. The put option is in 5 years, with the coupon period of 182 days. The bond issue is guaranteed by SUEK.
Investors offered more than RUB 42 billion. As a result of high demand, the book was significantly oversubscribed, enabling SUEK to increase the placed volume from initial RUB 15 billion to RUB 30 billion.
‘We are satisfied with the successful placement of our bonds at an attractive price. The deal once again demonstrated that SUEK has reliable market reputation and the financial community is confident about the stability of our business and our effective development strategy. The funds from the issue will be used to optimise our debt portfolio', Nikolay Pilipenko, SUEK’s Chief Financial Officer, said about the deal.
The technical bond placement is scheduled for 29 January 2019 on the Moscow Exchange. The issuance was managed by Alfa Bank, VTB Capital, Gazprombank, Credit Bank of Moscow, Otkritie Bank, REGION Investment Group, Russian Agricultural Bank, Sberbank CIB and Sovcombank.