VTB Capital has successfully closed a RUB 15bn Series 01 and 02 OJSC RusHydro bonds placement.
Investors were offered two issues of a 10-year tenor with a 5-year offer and a coupon of 8.15 – 8.40% per annum. The final coupon was set at 8.00% per annum. Bids for RusHydro bonds came from over 73 investors and totalled more than RUB 22bn.
Due to high demand from investors, the securities were placed with a coupon rate of 8.00% per annum that was lower than the marketing spread and comparable benchmarks.
Alexey Konochkin, the Deputy Head of DCM at VTB Capital, said: “We are very pleased to have participated in this transaction. We were able to attract a wide range of investors due to a well-executed marketing campaign, and we are convinced that the OJSC RusHydro bonds will be liquid and a reliable market tool”.
VTB Capital arranged the bonds placement along with the support of Gazprombank and Raiffeisen bank.