Select your city:

VTB Bank call center

+7 (800) 200-77-99
+7 (495) 739-77-99
For general information and enquiries

JSC Belon Finance fully placed the second bond issue worth RUR 2 billion

1 March 2007

On 1 March 2007 a full placement was made on the MICEX stock exchange of the second issue of documentary interest bearing bonds payable to bearer issued by JSC Belon Finance (with a guarantee by OAO BELON) and worth RUR 2 billion.

There were 35 bids submitted by the investors, with the total volume reaching RUR 2.6 billion. The proposed first coupon rate ranged from 9.00% to 9.75% p.a., and most of the bids were within 9.19% to 9.27% p.a. According to the arrangers' estimates, foreign investors' demand reached 20% of the issue.

The first coupon rate was set by the auction at placement and amounted to 9.25% p.a. (which is RUR 46.12 per a bond); the rates of the second to fifth coupons were equal to the first coupon rate, the other coupon rates will be extra set by the Issuer.  

Effective yield to a two and a half-year offer was 9.46% p.a. that is lower than the yield bottom line estimated by the arrangers before the placement.

As a result of the auction, 22 bids were satisfied.

The issue was fully placed on the commencement day, with 60,000 bonds being placed in the addition trading session held in the evening.

VTB acted as arranger and underwriter of the issue.

Co-arrangers of the placement were Raiffeisenbank and Bank SOYUZ.

Co-underwriters of the issue were BARS Commercial Bank, Investment Group Kapital, Evrofinance Mosnarbank, SlavinvestBank and ING Bank.

The volume of Belon Finance bond issue is RUR 2 billion (State Registration Number is 4-02- 36138-R of 11 April 2006). The issue matures in 5 years (1 820 days). The issue terms provide for a put option at 100% of par due in 2.5 years from the beginning of the placement. The issue will have semi-annual coupon payments. The rates of the first to fifth coupons are 9.25% p.a., the other coupon rates will be extra set by the Issuer.

Back to the list

VTB group news subscribe
  • E-mail subscribe
  • RSS
Download the list of cities.....