19 Aug 2009 11:46

Sistema places 20 bln in bonds, effective yield 15.29%

MOSCOW. Aug 19 (Interfax) - The Sistema holding has closed the placement of 20 billion rubles in second series bonds, a Sistema representative told Interfax.

The first coupon on the bonds was set at 14.75% at Tuesday's auction. Yield guidance was not more than 14.95%.

Renaissance Capital and Sberbank are the issue's organizers.

Renaissance Capital told Interfax that demand for the bonds exceeded 30 billion rubles and that 174 bids ranging from 12%-14.95% were received, mostly from Russian investors.

Effective yield to offer in three years was 15.29% pa.

The bonds will be in circulation for five years and feature semiannual coupon payments.