NCSP Launches Registration of Its Ruble Bond Program
OREANDA-NEWS. December 19, 2011. PJSC "NCSP" launches registration of its Ruble denominated bond program.
Registration includes all the necessary tender procedures for selecting financial institutions, as well as obtaining necessary corporate approvals in accordance with the Charter of PJSC "NCSP" and with applicable legislation.
According to Deputy CEO for Finance and Economy of PJSC "NCSP" Andrei Bubnov, “The company's strategy is aimed among other things at diversifying available sources of funding. Ruble bonds are a key financing source for Russian companies, and this instrument will complement NCSP’s portfolio.
The total par value of the program amounts to18 billion Rubles.
“Ruble bonds are usually registered as a program, the size of which exceeds the actual borrowing needs of the company”, - Andrei Bubnov explained “The size of the program is defined to ensure maximum flexibility when selecting the actual tranche for placement. Decision on placing each tranche will be made according to the company’s financing needs”
The program is expected to be registered during the next 2-3 months.