AHML to start collecting applications for A21 bonds worth 15 blond rubles at 3pm
MOSCOW. Feb 21 (Interfax) - Russia's OJSC Agency for Home Mortgage Lending (AHML) will open the bid book at 3:00 pm Moscow time, February 21, for acquiring bond issue A21 worth 15 billion rubles, the issuer said in a statement.
VTB Capital, VEB Capital, and Raiffeisenbank will accept applications until 5:00 pm Moscow time, February 22. The bonds will be placed on the MICEX by open subscription. They mature until 2020.
VTB Capital earlier said in its materials that AHML has plans to implement book building between February 20 and 22. The guidance for the first coupon was set at 8.75%-9.25%, which corresponds to a yield of 9.04%-9.58%.
The bonds will mature in tranches: 20% will mature on February 15, 2014 and 2015, 15% - 2016, 2017, 2019 and 2010. The issue foresees an option for preterm redemption at 35% of face value on February 15, 2014 and 25% of face value on February 15, 2015.
Each bond comes to 1,000 rubles at face value.
Russia's Federal Financial Markets Service (FFMS) registered the issues and prospectus for unconvertible AHML bond series A21, A22 worth 15 billion rubles and A23 worth 14 billion rubles in April 2011.
It was earlier reported that the Russian government will provide AHML with state guarantees for up to 44 billion rubles in bonds.
The AHML's main line of business is buying up mortgages under home loans from primary creditors and other organizations that operate on Russia's mortgage lending market. These are serviced by authorized independent financial institutions, most of whom also issue mortgage loans.
