RZD to take bids for at least 15 bln rubles in bonds Aug 11
MOSCOW. Aug 10 (Interfax) - Russian Railways (RZD) will take bids for at least 15 billion rubles in series 001P-04R exchange-traded bonds between 11:00 a.m. and 3:00 p.m., a banking market source told Interfax.
Rate guidance for the first coupon on the bonds is 8.30%-8.50%, corresponding to yield of 8.47%-8.68% to offer after eight years.
The rates of the 2nd-16th coupons will be set equal to the first.
The par value of each bond is 1,000 rubles. The nominal maturity is 15 years.
The technical placement is scheduled for August 17.
Russian Agricultural Bank (RusAg) and Sberbank CIB are the placement organizers.
RZD last placed obligations in May, when it sold 15 billion rubles in 001P-03R. The rate of the first coupon was set at 8.4%, corresponding to a yield to the eight-year offer of 8.58% per annum. The rates of the 2nd-16th coupons were set equal to the first.
RZD currently has in circulation 19 issues of exchange-traded bonds totaling 372 billion rubles and 14 issues of classic bonds totaling 205.2 billion rubles.