MMK to place BO-08 bonds worth 5 bln rubles on Feb 16, coupon guidance comes to 8.3%-8.5%
MOSCOW. Feb 10 (Interfax) - OJSC Magnitogorsk Iron and Steel Works (MMK) plans to hold a placement for exchange bond series BO-08 worth 5 billion rubles on February 16, Uralsib Capital, the organizer of the transaction, said in its materials.
The first guidance on the bonds was set at 8.3%-8.5%, which corresponds to a yield on an 18-month offer at 8.47%-8.68%.
MMK will place the three-year bonds by open subscription on the MICEX. Each bond comes to 1,000 rubles at face value.
It was earlier reported that the MICEX registered MMK's exchange bond issues BO-06 through BO-15 each worth 5 billion rubles in March 2011. The company placed BO-06 and BO-07 issues in July.
Exchange bond issues BO-01 through BO-05 worth a combined 43 billion rubles are also currently in circulation.
MMK is one of the biggest of Russia's metal products makers. Its main beneficiary is the chairman of its board of directors, Viktor Rashnikov, who controls 87% of the company's stock.