OREANDA-NEWS. On 21 April 2009 was announced, that JSC Russian Railways placed its 14th series bond by open subscription at MICEX. The issue was arranged by TransCreditBank, Sberbank of Russia, VTB-Capital, Gazprombank and IC Troika Dialog.

The size of the issue is RUR 15 bn. Par value of each bond is RUR 1.000. The issue matures in 6 years and carries 12 semiannual coupons. The coupon rate will be adjusted every 6 months to reflect changes of the fixed rate on REPO transactions made by the Bank of Russia for 7 calendar days. The first coupon rate is 15 % p.a.  investors may benefit form the put option exercisable 3 years after the launch date.

The issue was fully placed. Proceeds of the issue will be used to finance infrastructure projects under JSC RZhD’s investment program and financial plan.