Sovcombank places BO-03 series bonds for 7 bln rubles
MOSCOW. Aug 5 (Interfax) - Sovcombank completed the placement of five-year, BO-03 series bonds for 7 billion rubles, the credit organization said in a statement.
Book building for the bonds was conducted on Wednesday, August 3, from 11:00 a.m. to 4:00 p.m. Moscow time. The coupon guidance was initially set at 12%-12.5% annually and later narrowed to 12%-12.25% and then lowered to 11.9%-12%.
During premarketing the issuer initially offered investors bonds for 3 billion rubles, the bid book opened for 5 billion rubles.
After book building, the bank set the first coupon's yield at 11.9% per annum and the volume of the placement was increased to 7 billion rubles.
The bonds will pay semiannual coupons. The yield of the second coupon is equal to the first. An annual offer was announced.
Sovcombank itself was the placement organizer.
