OGK-2 has successfully closed the book for 2 issues of stock exchange bonds with the total amount of 10 billion rubles.
On November 19, 2015, OGK-2 PAO (“stable” BB forecast by Fitch) successfully closed the book for the floatation of two issues of stock exchange bonds with the nominal amount of 5 billion rubles each.
The bonds have six-month coupons; the circulation period is 5 years. The bonds also provide for an offer after 36 months at the price equal to 100% of the nominal cost.
The book of requests was being built from 11.00 a.m. till 3.00 p.m. During the 4 hours, there were more than 60 requests submitted by the investors with the total amount of about 28 billion rubles (management companies, banks, investment and insurance companies). The marketing range was revised twice and reduced from the original level of 12,00% – 12,25% up to 11,50% – 11,75%, and the final coupon rate was set at 11,50%. The investors’ demand for the final rate exceeded the offer and amounted to over 16 billion rubles.
The OGK-2 floatation rate that was reached there became the lowest among the energy sector issuers since the beginning of 2015.
The stock exchange bonds will be issued on November 24, 2015, at ZAO FB MMVB (Moscow Interbank Currency Exchange) at the price equal to 100% of the nominal cost.
The issues are organized by VTB Capital, Sberbank CIB, AB Russia
The issuing agent is Sberbank CIB.