24 Aug 2009 15:15

OJSC IDGC South to place 6 bln rubles in new shares on Sep 1

MOSCOW. Aug 24 (Interfax) - OJSC Interregional Distribution Grid Company (IDGC) , which is based in Rostov-on-the-Don, plans to hold an exchange placement for its second series bond issue worth 6 billion rubles on September 1, Gazprombank said in its materials.

Along with Alfa-Bank , Gazprombank will organize the issue.

The guidance for the first coupon comes to 18%-18.5%. The company will offer an annual or two-year offer for preterm redemption on the five-year bonds. The issue has semiannual coupons.

OJSC IDGC South was registered on June 28, 2007. The company provides services to an area covering 423,000 square kilometers. IDGC South's total aerial and cable lines for electricity transmission reach 250,000 kilometers.