7 Jun 2011 17:15

Russian metal firms lower guidance on bonds

MOSCOW. June 7 (Interfax) -Russian metal companies have lowered coupon guidance on bonds ahead of the closure of bid books today.

Mechel guidance on its 17th and 18th series, worth 5 billion rubles each, first to 8.5-8.75% and then to 8.4%-8.5%, Sberbank , one of the organizers, said.

Previous guidance was 8.75%-9%.

The book closed at 5:00 p.m. and placement is due on the MICEX exchange on June 9.

The bonds mature in ten years.

RCC Finance, an SPV for Russian Copper Company, lowered guidance on its 4th series bonds worth 5 billion rubles to 9.2%-9.5% (yield to offer in five years - 9.41%-9.73%) from 9.2%-9.7%, Troika Dialog said.

The book for the five-year bonds closes at 6:00 p.m.