RusAl opens bid book for eight series bonds worth 15 bln rubles, coupon guidance at 8.7%-9%
MOSCOW. April 4 (Interfax) - UC RusAl will open the bid book for its eighth series bond issue worth 15 billion rubles on April 4, the company said in a statement filed with the Hong Kong Stock Exchange citing a decision of its board of directors.
The bid book is slated to close on April 14, statement said. Renaissance Capital, Gazprombank, VTB Capital and Sberbank will accept applications.
The starting guidance on coupon yield comes to 8.7%-9%.
The bonds include a put-option, which can be exercise in no earlier than four years.
The placement is slated to take place on the MICEX (in quotation list B) on April 18, the company said.
RusAl's subsidiary Bratsky Aluminum Plant (BrAZ) placed 15 billion rubles in bonds in March. The bonds mature in seven years at 8.3%.
The funds raised have already go to refinancing debt.
The company, which restructured $14.9 billion in debt in 2009, plans to have refinanced $5 billion in debt by the close of 2012.