OREANDA-NEWS. December 29, 2012. Bank ZENIT has arranged a placement of NLMK's series 08 corporate bonds amounting to 10 billion rubles with a maturity of 10 years.

The bid book was closed on 4 December 2012. Technical placement was made on the MICEX Stock Exchange on 7 December 2012.

At the same time, demand for the bonds exceeded the nominal issue amount more than twice over. Fifty-five bids were received from investors with the coupon rate in the 8.39% to 8.75% range. The interest rate on the first coupon was set at 8.4% p. a. The rates for the second through to the sixth coupons remain at the same level. There is a 3 year put option on the issue. According to the issuer, proceeds generated by the bond issue will be used to refinance NLMK Group's short-term debt and for general business purposes.

Gazprombank and Rosbank were also arrangers of this placement alongside Bank ZENIT.

"This placement has confirmed that NLMK is one of the most attractive issuers on the debt securities market. We have seen even greater interest from investors than with NLMK's previous bond placement in September. It allowed us to place the bonds at the lower edge of the final marketing scale, which was reduced twice in the course of marketing," noted Bank ZENIT's Press Center.