OREANDA-NEWS. November 10, 2010. Sviaz-Bank acted as managing underwriter of the Series 01 bond issue offered by Territorial Generating Company 5 to raise 5 billion rubles at a coupon rate of 8.75% per annum. The bond yield will work out at 8.94% per annum to the three-year option, reported the press-centre of Sviaz-Bank.

As the sale set off, investors filed over 40 bids at a coupon rate ranging from 7.5% to 9.3% per annum. The total demand of 11.7 billion rubles was more than twice the offer. By steering the sales skillfully, the managing underwriter could raise the bottom line of the coupon range to 8.75% per annum.

Nonconvertible documentary Series 01 bearer bonds subject to obligatory centralized deposition were sold by public subscription on the MICEX floor. Each security has a par value of 1,000 rubles and maturity of seven years, with coupon periods of six months each.

Alfa-Bank, Sberbank of Russia, and TCB Capital were managing underwriters of the issue together with Sviaz-Bank.

Sometime earlier, in August and September 2010, bonds were successfully floated by TGC-9 OJSC and TGC-6 OJSC, both structural elements of the KES Holding Company as well. In the end, the three KES generating companies raised jointly 17 billion rubles from the sale of their bonds.