OREANDA-NEWS. September 19, 2012. On September 18, 2012, JSC “Magnit” closed the order book for its RUB 5 bln series BO-07 bond issue. The bonds have a three-year maturity period from the date of sale (1092 days).

Twenty-nine investor orders were placed during book building with a coupon rate ranging from 8.90% to 9.25%. Total demand totaled RUB 12.3 bln.

Upon completion of the book building, the coupon rate of the series BO-07 bonds was set at 8.90% per annum. Taking into account the market situation, placement price, coupon rate, and investor demand, JSC “Magnit” has decided to accept nineteen investor bids for the series BO-07 bonds.

Settlements for the deal will take place when the bonds are placed on the MICEX stock exchange on September 24, 2012.

The placement was arranged by CJSC “Sberbank CIB” (formerly CJSC Investment Company “Troika Dialog”) and underwritten by Ronin LLC.

“This is one of the first placements in a long time in the Russian market from a company in the corporate, and not banking sector,” commented Sergey Vidyaev, DCM Managing Director at CJSC “Sberbank CIB.” “Although the situation in the market remains uncertain, the excellent credit quality of the company, correct analysis of the market, and good timing all served to attract investor interest and achieve an impressive order book. As a result, upon closing of the book, the rate was set on the lower boundary of the last range with a double oversubscription.”