April 5, 2017 / 11:43 AM / 4 months ago

BRIEF-Russia's Detsky Mir to place RUB 3 bln bonds

2 Min Read

April 5 (Reuters) - ** Russia's toy seller Detsky Mir has closed book building for its 3 billion rouble ($53.47 million) exchange-traded BO-04 series bonds

** The coupon rate for the period until put option exercisable 3 years after the placement has been set at 9.5 pct per annum, the bonds mature in 7 years

** During book building Detsky Mir received more than 50 applications from a wide range of investors. The aggregate demand for the bonds exceeded 12 billion roubles

** The initial guidance for the first coupon of 9.85-10.10 percent per annum had been revised during book building until final 9.50 percent per annum, implying spread to federal loan bonds of 150-160 basis points and record low "single-B" category among the issues in the recent years

** Raised funds will be used to refinance current loan portfolio

** Placement organizers are VTB Capital, Raiffeisenbank, Sberbank CIB, placement agent is Gazprombank

For further company coverage For the story in Russian, click ($1 = 56.1021 roubles) (Reported by Elena Orekhova, translated by Gdynia newsroom)

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