First coupon rate for the bonds of PJSC MMC Norilsk Nickel of BO-001R-01 series was defined as 7,20% per year
- 26 September
The application book for the purchase of the bonds of PJSC MMC Norilsk Nickel of BO-001R-01 by overall nominal of 25 billion rubles was closed on September 19. Revolving period of the issue is 5 years (1820 days) from the moment of placement. Coupon time period is 6 months (182 days), a nominal price for a bond is 1000 rubles and the price for placement is 100% from the nominal.
The initial coupon rate guidance was 7.40-7.50% per year that corresponds with an efficient profitability to payment of 7.54-7.64% per year. The initial indicative deal volume was not less than 10 billion rubles.
A great interest of investors to the issue during the bookbuilding allowed to enlarge the issue volume up to 25 billion rubles, to reconsider the coupon guidance and define the final rate on the level that is lower than claimed range – on the level 7.20% per year that corresponds with the profitability of 7.33% per year.
Overall, 36 application were submitted by the investors and the total demand exceeded 36 billion rubles. It is the largest local placement of the bonds of PJSC MMC Norilsk Nickel. The placement was held with a spread to federal loan bonds of 53 basis points. It is the most successful placement among Russian “blue chips” companies from the corresponding sector in 2019.
The technical placement of bonds will be held on October 1, 2019 at Moscow Exchange.
PJSC ROSBANK, GPB (JSC) Bank, PJSC “Sovcombank” and JSC Sberbank CIB were the organizers of the placement.
PJSC ROSBANK is the placement agent.