4 Dec 2009 18:04

Mosenergo places 5 bln rubles in bonds, issue heavily oversubscribed

MOSCOW. Dec 4 (Interfax) - Mosenergo placed 5 billion rubles in third series bonds on Friday, the power company said in a statement.

Demand exceeded 15 billion rubles.

Mosenergo had set a rate of 10.25% pa on the first coupon during the book build.

Yield guidance was 10.75%-11.25% if the bonds have an offer after three years. The bonds mature in five years.

Gazprombank arranged the offering.

The Federal Financial Markets Service (FFMS) registered the issue back on December 12, 2008.

Mosenergo placed 2 billion rubles in 12-month second-series exchange bonds at 11.45% at the end of August.

It also has first-and second-series conventional bonds, volume 5 billion rubles each, outstanding. These mature in September 2011 and February 2016, respectively.