Coupon rate on series-4 AFK Sistema bonds 7.65% p.a.
MOSCOW. March 17 (Interfax) - AFK Sistema has set the coupon rate on its 19.5-billion-ruble 04 bond series at 7.65% per annum, a company statement says.
The 19.5 5-year million bonds are slated for open-subscription placement on the MICEX on March 22, each with face value of 1,000 rubles. The semiannual coupons will all carry the same rate as the first.
These are amortizing bonds: 30.769% of face value will be redeemed on both this September 20 and September 16, 2014; 15.385% on both March 18, 2014 and March 17, 2015; and the remaining 7.692% on March 15, 2016.
The Federal Financial Markets Service (FFMS) registered this bond issue and associated prospectus at the end of this January.
Proceeds from the bonds will be used for refinancing current AFK Sistema debt, which will not cause an overall debt increase, the company said earlier.
AFK Sistema is a diversified holding with investments in telecommunications, electronics, media, and real estate, and is developing along other business-lines as well, including tourism, trade, finances, radio and satellite technology, medical services, pharmaceuticals, and biotechnology.
The company's main owner is Vladimir Yevtushenkov with 64.2% of its shares. Another 19% of AFK Sistema shares circulates on the London Stock Exchange.