11 Apr 2017 12:04

Gazprombank lowers coupon rate guidance on 10 bln rubles in bonds to 9.2%-9.4%

MOSCOW. April 11 (Interfax) - Gazprombank lowered the rate guidance for the first coupon of 10 billion rubles in series Bo-16 exchange-traded bonds to 9.2%-9.4% from 9.5%-9.7%, a source in banking circles told Interfax.

The guidance range corresponds to a yield to the offer after three and a half years of 9.41%-9.62% per annum.

The book building will take place on April 11 from 11:00 a.m. to 5:00 p.m. Moscow Time. The issuer has initially announced a rate guidance of 9.5%-9.7% per annum.

The technical placement has been preliminarily scheduled for April 18.

The bonds are expected to pay semi-annual coupons with a maturity of 7 years.

The bank is organizing the placement itself.