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Syndication is formed to place ZAO Russian Sea bond issue

 
19 June 2007

VTB Bank has announced of a syndication formed to place a debut bond issue by ZAO Russian Sea, which is guaranteed by ZAO Russian Fish Company, series 01 and worth RUR 2 billion. 

Co-arranger of the issue is Bank ZENIT.

Underwriters of the issue are Promsvyazbank and SvyazBank.

Evrofinance Mosnarbank, NOMOS-BANK, Bank Petrocommerce, Severnaya Kazna, Slavinvestbank, Bank SOYUZ and Uniastrumbank Bank are co-underwriters of the issue.

The bonds will be placed on MICEX trading platform on 21 June 2007.

Under the arranger's forecast, an annual recentage yield to a year offer will reach 9.84% to 10.38% p.a. at placement, which is equal to the first coupon rate from 9.50% to 10.00% p.a.

The volume of the Russian Sea bond issue is RUR 2 billion (State registration Number 4-01-12184-Н of 22.03.2007). The issue matures in 1 820 days (5 years). The issue terms provide for a put option at 100% of par due on 23 June 2008. The issue will have semi-annual coupon payments.  The rates of the first to fourth coupons are equal and will be set during the placement; the other coupon rates will be extra set by the Issuer.

JSC VTB Bank is arranger and underwriter of the issue.

National Depositary Center participated as a paying agent and depository of the bonds.


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