First coupon rate for NLMK's 8th bond series 8.4%
MOSCOW. Dec 5 (Interfax) - Russian steel company Novolipetsk Steel (NLMK) has set the first coupon rate for its eighth bond series worth 10 billion rubles at 8.4% per annum, the company said in a statement.
The rates of the second through sixth coupons are equal to that of the first. Each coupon will have a payout of 41.88 rubles per bond, with face value of 1,000 rubles.
The rate was established during book building. Gazprombank took investor applications on December 3 and 4.
Demand for the bonds was 20.3 billion rubles.
Technical placement under open subscription on the MICEX is slated for December 7.
Guidance for the first coupon of NLMK's eighth bond series worth 10 billion rubles was 8.65%-8.8% per annum, corresponding to yield to a three-year offer of 8.84%-8.99% pa (according to RusBonds data).
The ten-year bonds have 20 semiannual coupons.
Gazprombank, Bank Zenit and Rosbank are organizing the placement.
Last December, the Federal Financial Markets Service (FFMS) registered five issues of 50 billion rubles worth of classic NLMK bonds, volume 10 billion rubles each.
The company placed 5 billion rubles in seventh-series bonds in the second half of September and 5 billion rubles in fourth-series exchange-traded bonds on September 4.
The company has six exchange-bond issues worth a total of 40 billion rubles and one classical-bond issue worth 5 billion rubles outstanding.