PJSC FGC UES (MOEX: MCX: FEES) has set the coupon rate for the 29th coupon of the 29th series at 4.6% per annum, the company said.
In October 2013, the company placed bonds of the 29th series for 20 billion rubles. The rate of the 1st coupon is set at 7.1% per annum. The bonds are placed for 35 years and have quarterly coupons. The rates for coupons 2-132 are calculated as annual inflation rate + 1%. There is a possibility of early redemption of bonds at the discretion of the issuer if the interest rate reaches or exceeds the level of 10% per annum.
Currently, there are 16 issues of the company's classic bonds in circulation for a total of 200 billion rubles and 6 exchange-traded bond issues for 56 billion rubles.
FGC owns and manages the power grid facilities of the Unified National Power Grid of the Russian Federation. Power Grid Holding Rosseti (MOEX: MCX: RSTI) owns 80.13% of FGC shares. In turn, Rosseti is 88.04% owned by the state, another 1.28% in the capital – from GazpromFinance BV