Russian Grids confirms exchange-traded bond program for 100 bln rubles
MOSCOW. Oct 14 (Interfax) - The board of directors of PJSC Russian Grids at a meeting on October 10 confirmed the decision on the placement of a program of exchange-traded, 001P series bonds for 100 billion rubles, the company said in a statement.
The circulation period of the bonds being placed as part of the program will amount to up to 30 years. The program is perpetual.
Currently Russian Grids has six issues of exchange-traded bonds in circulation for a total sum of 41 billion rubles. In addition, the company has four unplaced registered issues of exchange-traded bonds for 55 billion rubles.
Russian Grids Deputy CEO for Finance Yegor Prokhorov told Interfax that currently the company has registered issues of exchange-traded bonds with fixed par values of 10 billion-15 billion rubles.
"The presence of a program of exchange-traded bonds will allow Russian Grids to more flexibly approach raising debt capital and select the necessary volume and timeframes before the repayment of each placed issue as part of the program in accordance with the current market situation and the company's needs at the time of the conclusion of each deal. The program of exchange-traded bonds is perpetual and is valid until the end of the placement of the entire announced volume," he said.