Mechel bonds yield 12.5pct and four times oversubscribed
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Saturday, 17 Oct 2009
Interfax reported that Mechel closed its order book for a fifth series of RUB 5 billion in bonds on Friday.
Mechel said in a statement that the first coupon yielded 12.5% per annum.
A source closed to the issue organizers said earlier that the issue was four times over-subscribed.
The bond placement is scheduled for October 20th.
Gazprombank, Sberbank Russia and VTB Capital are organizing the issue.
The company has announced a three-year offer on the nine-year bonds which pay quarterly coupons.
(Sourced from Interfax)
