OREANDA-NEWS. August 13, 2013. The order book was closed for an issue of the series 01 bonds of O1 Properties Finance worth RUB 6 bln and with a maturity of 5 years. The bonds have a put option of 3 years. More than 25 investors took part in the bookbuilding process.

Upon conclusion of bookbuilding, the interest rate for the bonds before the put option was set at 12% annually, with coupon guidance falling in the range of 12.00-12.50%. The range for the coupon rate was amended twice during bookbuilding, first narrowed to 12.00-12.25%, and the final book was closed with an announced rate of 12%.

The placement was arranged by Otkritie Bank, NOMOS Bank, Raiffeisenbank, Sberbank CIB.

"The debut bond issue by О1 Properties Finance demonstrated investors’ interest and high appraisal of the quality of our business. This allowed us to achieve a full order book and at terms satisfactory to us. We are planning to direct the proceeds from the sale to reducing leverage and investing in the further development of the company", - commented on the issue Chairman of the Management Board of O1 Properties Dmitry Mints.

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O1 Properties

O1 Properties is one of the largest owners of high quality (A and B+/B class) office properties in Moscow. The company owns and manages a portfolio of ten fully-functioning business centres (with a total leasable area of 426,000 sq. m) in the key business districts of the Russian capital. In addition, the Company owns a development project that accounts for less than 1% of the market value of O1 Properties’ portfolio. According to a Valuation Report compiled by Cushman & Wakefield, the market value of the Company’s assets as of December 31, 2012 was USD3.7 bln.