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VTB Capital has successfully closed the placement of RUB 3bn Sukhoi Civil Aircraft (SCA) bonds. Investors were offered a 3-year tenor with a 1-year offer. The coupon spread was set at 8 – 8.5% per annum. The bonds were placed at 8.25% per annum.
This deal is the 48th Ruble bonds placement by the VTB Capital team in 2010. The aggregate volume of VTB Capital bond placements this year amounts to some RUB 330bn.
SCA’s long-term international rating by Fitch is ВВ (positive outlook), with the currently traded SCA Series 01 bonds (March 2007 issue) added to the Bank of Russia REPO list.
Alexey Konochkin, Deputy Head of DCM at VTB Capital, said: “The project was arranged and closed in record time – deal structuring, prospectus, marketing documents and bookbuilding took slightly over a month. The placement results show that the deal was a major success”.
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