NLMK again lowers BO-04 bond coupon guidance - to 8.25%-8.3%
MOSCOW. Sept 4 (Interfax) - OJSC Novolipetsk Steel (NLMK) has again lowered the first-coupon guidance for its 5 billion ruble series of BO-04 exchange bonds to 8.25%-8.3% per annum, a source at Troika Dialog , which is organizing the bond placement together with Gazprombank , has told Interfax.
Originally, guidance was 8.3%-8.5% per annum, but was just recently lowered to 8.3%-8.4%.
Bid-acceptance for the bonds ended Tuesday at 5:00 p.m. Moscow time. Technical placement of the three-year securities in open subscription on the MICEX Stock Exchange is tentatively slated for September 10.
The issue carries 2-year put/call options and six semiannual coupons. Bond face value is 1,000 rubles.
The company had planned to market the bonds July 23-24 with coupon rate guidance of 8.15%-8.35% per annum yield to offer 8.32%-8.52%). Placement did not take place.
The MICEX Stock Exchange admitted to trading seven issues of NLMK exchange bonds totaling 50 billion rubles in October of 2010.
There are already in circulation six of those issues - totaling 45 billion rubles.
