Rosbank acted as an arranger of bonds floatation of JSC «BSC» on the amount of 8 billion rubles
- 12 February
On February 2nd Moscow Stock Exchange hosted the debut placement of the stock obligations of JSC «Bashkir Soda Company», series 001P-01.
Flotation value amounted to 8 bln rubles with maturity of 5 years (with deprecation) at a coupon rate of 8,10% per annum. Coupon period – 91 days.
Investors showed an interest in BSC debt securities: primarily marketed range of coupon rate was decreased from 8,3-8,6% to 8,0-8,1% per annum, total demand exceeded 18 bln rubles. The book received 45 applications from a wide range of market investors: banks, managers, investment and insurance companies and private investors. 38 applications were satisfied on the active rate of 8,1%.
The flotation became the first market placement of emitter with credit score rated only by national agency.
«We thank JSC «BSC» and JSC «Bashkir Chemistry» management for the trust given to the organizers in choosing the strategy of marketing and bond placement. We are very pleased with the results of JSC «BSC» debut placement and we hope on the continuation of our effective cooperation. We also want to thank our investors, who positively perceived the rating only from local rating agency (Expert RA) and opened the limits in time», - Rosbank Director of Debt Capital Markets Tatyana Ambrozhevich commented on the results of placement.
Estimating the results of the placement, JSC «BSC» Deputy Director for finance and economy Ilshat Muhametshin said: «The company got marketable benchmark of its debt value, an access to an entirely new base of investors and now can balance funding sources between bank loans and market loans».
Welcoming the new emitter, Member of Board – managing director for the stock market of Moscow Stock Exchange Anna Kuznetsova said: «The high interest in placement, diversified base of investors and the large numbers of free limits create the basis for «Bashkir Soda Company» further effective placements».
«JSC «BSC» Deputy Director An Yon Dok said: «The company intends to direct facilities of bonded loans on refinancing current debt portfolio, thereby extending its time limits and reducing interest-rate-risk, while not increasing enterprise’s debt loans performing modernization and expanding capacities.
According to Gazprombank and Rosbank estimations, organizers of placement, the successful debut floatation of bonds of JSC «BSC» on a local market is a result of a joint effort by the company and the organizers to obtain a credit rating, preparation of emission and marketing materials, a series of meetings with the investors.