UTair-Finance prices 3 bln rubles in bonds at 11.75%
MOSCOW. Nov 15 (Interfax) - LLC UTair-Finance set yield on the first coupon of its exchange bonds BO-09 and BO-10 worth a combined 3 billion rubles at 11.75% pa during book building from November 7 to 14, the company said.
The technical placement of the three-year issues by open subscription on the MICEX is slated for November 16.
The first coupon guidance was 11.25%-11.75%, which corresponds to a yield to offer at one year of 11.74%-12.28%.
The bonds have quarterly coupons.
Each issue is 1.5 billion rubles.
The issue organizers are Promsvyazbank , BK Region, Petrocommerce Bank , and Ursa Capital.
The company earlier planned to place the issues in August but the placement timeframe was changed.
The MICEX decided to allow UTair-Finance's exchange bond issues BO-06 through BO-16 worth a combined 16 billion rubles for trading during placements in December 2011.
UTair-Finance is an SPV for UTair , one of the leading Russian airlines.
