Evraz boosts total bond placement to 20 bln rubles
MOSCOW. June 1 (Interfax) - LLC EvrazHolding Finance opened the bid book for acquiring its five series bond issue worth 5 billion rubles at 5:00 pm Moscow time on Wednesday, the company said in a statement.
The issuer is already collecting applications for its seventh series bonds worth 15 billion rubles. Therefore, the total placement now comes to 20 billion rubles.
The bid book for both issues will close at 3:00 pm Moscow time on June 3. Troika Dialog , Gazprombank and Sviaz-Bank are accepting applications. The placement will take place on the MICEX on June 7 at open subscription.
The ten-year bonds will have a five-year offer for preterm buyback. The guidance for the first coupon comes to 8.5%-8.75%, corresponding to a yield of 8.68%-8.94% against the offer.
Russia's Federal Financial Markets Service (FFMS) registered EvrazHolding Finance's bond issues five through seven worth a combined 30 billion rubles at the start of May.
The fifth issue comes to 5 billion rubles, sixth issue - 10 billion rubles and seventh issue - 15 billion rubles. Each bond comes to 1,000 rubles at face value.
Each issue matures over a 10-year period.
Evraz Group should pay off $628 million in principle debt this year. The bulk of this amount was paid in the first quarter
A company called Lanebrook owns about 77% of Evraz. Lanebrook's beneficiaries are Millhouse, the holding company for the assets of billionaire Roman Abramovich and his business partners (50%), on the one hand, and Alexander Abramov and Alexander Frolov (50%), on the other.
Evraz Group is a vertically-integrated steel, mining and vanadium business with operations in Russia, Ukraine, Europe, USA, Canada and South Africa. Evraz's internal consumption of iron ore and coking coal is covered by its mining operations.