18 Oct 2022 14:14

Rusal to begin bookbuilding for new yuan-denominated bond issue at end of Oct

MOSCOW. Oct 18 (Interfax) - UC Rusal at the end of October plans to begin bookbuilding for a new yuan-denominated bond issue, a source on the financial market has told Interfax.

Yield guidance for the coupon does not exceed 3.8% per annum, and the issue matures in 2.5 years. The nominal value of the bonds is 1,000 rubles, and the placement volume will be announced later.

External public irrevocable offers from the operating companies of the group of JSC Rusal Krasnoyarsk and JSC Rusal Sayanogorsk provide security.

Settlements for coupon payments and redemption of the issue will be remitted in yuan. According to the issuer's decision and investors' requests, cashless payments in Russian rubles are possible at the official exchange rate of the Central Bank of Russia (CBR).

The minimum order is a multiple of the equivalent of 1,000 yuan in Russian rubles at the official exchange rate of the CBR on the date of placement, though at least 1.4 million rubles.

Gazprombank, Credit Bank of Moscow, Russian Regional Development Bank, BCS Global Markets, Expobank, and Sinara IB are the organizers of the placement, with Gazprombank chosen as the placement agent.