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.