Corporate Communications

VTB Capital places a debut RUB5bn OJSC “Burovaya Kompaniya “Eurasia” bond issue

4 July 2011
VTB Capital has placed a debut 7 year RUB5bn OJSC “Burovaya Kompaniya “Eurasia” bond issue with a buy-back option in 5 years. The coupon was set at 8.40% per annum. The bonds are guaranteed by Eurasia Drilling Company Limited. 

The organizers were able to attract a broad range of investors despite the challenging market conditions. The book was four times oversubscribed at a total of RUB19bn and 70 investors participated in the issue. 

Alexey Konochkin, Deputy Head of DCM at VTB Capital, said: “Despite the challenging market conditions caused by worsening external market conjuncture and decreasing price on energy resources, we managed to attract a wide range of investors to participated in the debut placement. The initial coupon rate has been decreased 3 times – from 9.00-9.50% to 8.40-8.50%”.

VTB Capital arranged the bond placement along with the support of Raiffeisen bank. 

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