VTB Capital, the investment branch of VTB Group, acted as a joint bookrunner in the placement of RUB 15bn BO-PO4-series bond issue for Russian energy company RusHydro with a 10.35% coupon and a three-year maturity. Book building closed on 30 March 2016.
The offering was more than 2.5 times oversubscribed and attracted an estimated RUB 40bn worth of investor orders.
Yuri Soloviev, First Deputy President and Chairman of VTB Bank Management Board, said: “The successful placement of this bond issue demonstrates the growing investment attractiveness of RusHydro, our long-standing and reliable client. We look forward to continuing our work with RusHydro to help it successfully develop its business in the future.”
Nikolai Shulginov, Chairman of the Board and General Director of RusHydro, said: “RusHydro has been actively working to make the Group’s activity more effective in all areas, including optimising its debt portfolio. The new bonds’ characteristics are the result of the company’s successful work in debt capital markets in cooperation with our partner banks and further attests to the strengthening of the Russian financial markets in unstable economic conditions.”
The technical placement of the bond is scheduled for 8 April 2016.