Corporate Communications

VTB Capital successfully places JSC FGC UES RUB 20bn bond issue

21 July 2011

VTB Capital has successfully placed JSC Federal Grid Company of Unified Energy System (JSC FGC UES) RUB20bn bond issue. The coupon rate was set at 7.95%.

The initial volume of the series 16 bonds was RUB15bn with a coupon rate of 8.00-8.20% per annum. The high demand for the bonds allowed to place the 12-year series 19 RUB20bn bonds with a 7-year option instead. The final book consisted of more than 50 investor bids with total demand of about RUB 30bn.

Alexey Konochkin, Deputy Head of DCM, VTB Capital, said: “VTB Capital managed to attract a wide range of investors and place the JSC FGC UES significantly lower than the initial coupon rate. It is the second successful placement of JSC FGC UES this year with VTB Capital acting as a bookrunner both times”.

Gazprombank, Sberbank and Renaissance Capital also acted as joint bookrunners.

In July 2011, VTB Capital placed a 10 year RUB 10bn JSC FGC UES bond issue.


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