FGC decides to increase bond placement volume
MOSCOW. July 14 (Interfax) - OJSC Federal Grid Company (FGC) UES decided on Thursday to increase the volume of placed bonds.
The company decided to place bond in its 19th series to the tune of 20 billion rubles in place of series-16 bonds (15 billion rubles), the bid book for which was opened on July 12. The series-19 bonds mature in twelve years.
As reported, when the book for the series-16 bonds was opened, FGC announced rate guidance for the first coupon of 8%-8.2% per annum, corresponding with yield to maturity of 8.16%-8.37% p.a. No offers on the seven-year issue were announced.
Materials generated by VTB Capital, one of the placement organizers, say that the series-19 bonds do have an associated seven-year offer. Yield guidance is the same as for the series-16 bonds.
Bids for the bonds are being accepted by Renaissance Capital, Gazprombank, VTB Capital, and Sberbank of Russia until 5:00 p.m. Moscow time on July 15. Placement on the MICEX is planned for July 21.
The Federal Financial Markets Service (FFMS) registered FGC bonds in series 12-20 (totaling 125 billion rubles) on June 7. The company placed series-13 bonds totaling 10 billion rubles at 8.5% p.a. at the beginning of July.
The face value of all the bonds in those series is 1,000 rubles apiece.