NLMK lowers coupon rate guidance on BO-04 bonds to 8.3%-8.4%
MOSCOW. Sept 4 (Interfax) - OJSC Novolipetsk Steel (NLMK) has lowered the first-coupon rate guidance on its 5 billion ruble BO-04 exchange bond series to 8.3%-8.4%, a source at Troika Dialog , which is organizing the bond placement together with Gazprombank , has told Interfax.
The previous guidance was 8.3%-8.5%.
Bid-acceptance for the bonds ends on Tuesday. 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.
