PJSC VimpelCom Prices Two Issues of Ruble-Denominated Bonds
OREANDA-NEWS. PJSC "VimpelCom" has established a coupon of 11.90% for 15 billion rubles of ten year bonds (BO-03), with a two year put option. The bonds pay on a semi-annual basis. They have a put date of October 17, 2017 and a final maturity of October 3, 2025.
Total demand for the BO-03 issue exceeded 32.8 billion rubles (more than two times the issue size) from more than 40 investors.
This permitted two reductions in the initial indicated coupon of 12.25-12.75% (YTP 12.63-13.16%), first to 12-12.25% (YTP 12.36-12.63%), and then to 11.8-12.0% (YTP 12.15-12.36%), with a final print at 11.9% (YTP 12.25%). Issue size was increased from 10 to 15 billion rubles.
Immediately thereafter, the company placed a second issue (BO-02) in the amount of 10 billion rubles on identical terms.
Settlement of both issues will take place October 16, 2015.
Sberbank CIB, Alfa-Bank and Raiffeisenbank acted as Joint Arrangers, with Raiffeisenbank the Technical Underwriter managing settlement. The bond issue meets requirements for inclusion in the Lombard list of the Central Bank of Russia.