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Russian Federation : First coupon for Yaroslavl Region s series 35013 government bonds set

June 27, 2014

On June 26, 2014, the Yaroslavl Region s government bonds with a fixed coupon yield and debt amortization (government registration number RU35013YRS0) worth RUB 7 bln were successfully placed. The bond issue has a maturity of 5,3 years (1,911 days) from the date of issue.

The bonds have an amortised repayment structure: 15% of their nominal value will be redeemed on the date of payment of the 8th and 9th coupons, 12.5% on the date of payment of the 12th, 13th, 16th and 17th coupons and 10% on the date of payment of the 20th and 21st coupons. The nominal value of one coupon is equal to 1,000 rubles.

During book building 71 investor bids were made for the bonds and demand exceeded RUB 18 bln for the guidance range of 10.00-11.04% annually. The issuer decided to set the first coupon rate at 10.20% annually, which corresponds to a yield to maturity of 10.60% annually, and to accept 48 investor bids amounting to RUB 5 bln.

Placement organizers: Sberbank CIB and VTB Capital.

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Source: TendersInfo (India)

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