Coupon rate for EDC subsidiary's first series bonds set at 8.4%
MOSCOW. June 27 (Interfax) - LLC Drilling Company Eurasia, which is part of Eurasia Drilling Company Ltd (EDC), has set the first coupon rate for its first series bond issue worth 5 billion rubles at 8.4%, the company said in a statement.
The rates of coupons two through ten will be equal to the first. Each coupon payment will come to 41.88 rubles per share at a face value of 1,000 rubles.
The coupon rate was set through book-building. Applications for the issue were accepted by VTB Capital and Raiffeisenbank from June 8 and 27. The placement of the seven-year issue is slated to take place by open subscription on the MICEX on June 29.
The guidance for the first coupon was set at the start of book-building at 9.95% with a five-year offer for preterm buyback. Later, the guidance was reduced several times and came to 8.4%-8.5%.
Russia's Federal Financial Markets Service registered the company's three bond issues on May 12. The first issue comes to 5 billion rubles, issue two and three - each 3 billion rubles.
EDC was founded with OJSC Lukoil's oil production enterprises. The company's CEO and board chairman, Alexander Dzhaparidze, is the controlling shareholder in EDC.