Moscow Domodedovo Airport Closes Its Eurobond Transaction
OREANDA-NEWS. Moscow Domodedovo Airport successfully executed its Eurobond transaction. 5-year USD 300 million emission was priced at 6% yield-to-maturity.
Eurobonds were issued in Reg S format. The book was comfortably covered; demand from more than 80 institutional investors from the U.K., Switzerland and other Western European countries, as well as major Russian state owned banks.
“We believe that the issue was successfully placed among the wide range of investors, which is confirmed by the secondary market trading: Domodedovo bonds have been trading above the offer price since the issue,” noted Sophia Sool, Co-Director, UBS Russia Investment and Banking Department.
The company is pleased with the results of the bond offering: the demand for securities was rather high. In addition, the Company managed to achieve the lowest coupon rate among the Russian infrastructure companies. The bond offering enabled the company to attract the necessary funds for its development program.
Moscow Domodedovo Airport is the largest air hub in Russia, and in 2012, its total passenger traffic amounted 28.2 million people. It falls into the category of the largest airports in Europe and is among the top three fastest growing airports in Europe according to the ACI Europe classification. Since 2009, it has been holding the title of the best airport in Eastern Europe as rated by Skytrax. Domodedovo is the base airport in Moscow for member airlines of the largest global airline alliances - Star Alliance and oneworld.