09.02.2017, 11:00
Chelyabinsk Pipe plant successfully completes 2nd bond issue within framework of exchange-traded bond program
OREANDA-NEWS. Public Joint Stock Company Chelyabinsk Pipe plant (ChelPipe), the leading Russian manufacturer of pipe products and a provider of integrated solutions for energy companies, announces the successful conclusion of book-building for the company’s second issue of exchange-traded bonds (BO series 001P-02) in a total nominal volume of RUB 5 bln, placed under the Program.
The exchange-traded bonds are structured according to the classical scheme with a 182-day coupon period and bullet repayment at the end of the term. The par value of each bond is RUB 1,000. The maturity term is 5 years after the placement date.
The new issue generated considerable interest from a wide range of investors including banks, asset management, insurance and investment companies, and individuals. The significant demand allowed the preliminary coupon guidance range to be readjusted downward three times throughout the course of the book-building, eventually settling at 9.85% (YTM 10.09%, 200 bps premium to OFZs).
During the book-building we received 45 orders from investors with overall demand exceeding 18 billion rubles.
“We are very satisfied with the results of the placement and are thankful to our investors for placing their faith in us. The success of this deal lies in the systematic work of the ChelPipe team to improve our operating results and debt structure”, commented Valery Borisov, ChelPipe CFO.
The exchange-traded bonds are structured according to the classical scheme with a 182-day coupon period and bullet repayment at the end of the term. The par value of each bond is RUB 1,000. The maturity term is 5 years after the placement date.
The new issue generated considerable interest from a wide range of investors including banks, asset management, insurance and investment companies, and individuals. The significant demand allowed the preliminary coupon guidance range to be readjusted downward three times throughout the course of the book-building, eventually settling at 9.85% (YTM 10.09%, 200 bps premium to OFZs).
During the book-building we received 45 orders from investors with overall demand exceeding 18 billion rubles.
“We are very satisfied with the results of the placement and are thankful to our investors for placing their faith in us. The success of this deal lies in the systematic work of the ChelPipe team to improve our operating results and debt structure”, commented Valery Borisov, ChelPipe CFO.
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