Russian miner & steel maker Metalloinvest has announced the closing of the order books for the placement of exchange-traded bonds series 001Р-01 and 001Р-02 by open subscription for a total amount of CNY 2 billion (USD 289 million). Metalloinvest is one of the first companies on the Russian market to issue bonds denominated in yuan. During the formation of books, the total volume of demand was more than 3 times higher than the volume of supply at the initially announced level of the rate.As a result of book building, the coupon rate was set at 3.10% for series 001R-01 with a maturity of 2 years and 3.70% for series 001R-02 with a maturity of 5 years, which is 30–40 bp below the levels set at the time of the opening of the order book. Coupon income will be paid quarterly.The ACRA rating agency has assigned the highest possible expected eAAA(RU) rating to the bond issues.The technical placement of securities on the Moscow Exchange is scheduled for September 16, 2022. The funds raised will be used to refinance current debt.
Russian miner & steel maker Metalloinvest has announced the closing of the order books for the placement of exchange-traded bonds series 001Р-01 and 001Р-02 by open subscription for a total amount of CNY 2 billion (USD 289 million). Metalloinvest is one of the first companies on the Russian market to issue bonds denominated in yuan. During the formation of books, the total volume of demand was more than 3 times higher than the volume of supply at the initially announced level of the rate.As a result of book building, the coupon rate was set at 3.10% for series 001R-01 with a maturity of 2 years and 3.70% for series 001R-02 with a maturity of 5 years, which is 30–40 bp below the levels set at the time of the opening of the order book. Coupon income will be paid quarterly.The ACRA rating agency has assigned the highest possible expected eAAA(RU) rating to the bond issues.The technical placement of securities on the Moscow Exchange is scheduled for September 16, 2022. The funds raised will be used to refinance current debt.
