Demand for bonds of SIBUR volume of 15 billion roubles-three times oversubscribed

Спрос на бонды СИБУРа объемом 15 млрд рублей втрое превысил предложение

Demand for 10-year bonds of PJSC “SIBUR holding” of series BO-01 and BO-02 total amount of 15 billion rubles in three times oversubscribed and amounted to 45 billion rubles, according to a press release of the Issuer.

The placement was attended by the leading Russian state and private banks, investment and management companies, brokers and retail investors.

“We continuously monitor opportunities to optimize our credit portfolio and are now seeing in the market favorable conditions for the placement of ruble bonds in order to diversify its loan portfolio and reduce the average weighted rate of rouble debt. Funds from the placement will be used to refinance the current debt portfolio. High demand from investors have once again confirmed that our financial policy and reputation of “SIBUR” as a reliable borrower, which is supported by high credit ratings from leading agencies” – are in the press release, the words of a member of the Board – managing Director on economy and Finance of “SIBUR” Alexander Petrov.

Collection of applications for series BO-01 in the amount of 10 billion rubles and BO-02 in amount of RUR 5 billion passed on may 21 from 11:00 MSK to 15:00 GMT.

Initially, the benchmark rate of the 1st coupon was 5,70-of 5.85% per annum, in the course of marketing has changed three times. “Following the formation of the book set the interest rate semi-annual coupon in the amount of 5.50% per annum, the lowest coupon among the market of issues of corporate issuers in the history of modern Russian public debt market”, – stated in the press release of the Issuer.

The rate corresponds to yield to put option in 2.5 years at the level of 5.58% per annum.

Terazosina releases scheduled for may 28.

The organizers are Gazprombank and Sberbank CIB.

As reported in March 2020 PJSC “SIBUR holding” has decided to early repay bonds 12th series of 10 billion rubles. The redemption took place on 25 March, the date of completion of the 7th coupon period.

The company placed 10-year bonds in September 2016. Rate 1-7-fourth coupons were set at the level of 9.65% per annum. Release March 25, was scheduled to offer.

In the summer of 2019, the company repaid bonds of 11 series of 10 billion rubles on the expiration date of the 6th coupon period. The company placed 10-year bonds in August 2016. 1-6 the rate on coupons was set at the level of 9.65% per annum. On release of August 5, was scheduled to offer.

The last time “SIBUR” was on the domestic debt market in August and September 2016 with these releases.

Last year, the company placed 5-year Eurobonds for $500 million at 3.45 percent per annum.

Currently in circulation is one issue of classic bonds of the company at 10 billion rubles.

The main shareholder of “SIBUR” Leonid Michelson control of 48.48% of the shares of the company Gennady Timchenko, a 17% Kirill Shamalov – 3,88%, current and former management of the company (including the Chairman of the Board of “SIBUR” Dmitry Konov and the head of the “Gazprom Neft (MCX:SIBN)” Alexander Dyukov) – by 10.6%, China’s Sinopec and the “silk road Fund” to 10%.

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