OREANDA-NEWS. First Container Terminal (FCT) closed the order book for its series 02 bonds worth RUB 5 bln, which have a nominal maturity of 10 years. The bond issue has a 5-year put option. The rate of the first coupon was 13.10%, which corresponds to a yield to 5-year put of 13.53% per annum. The nominal value of one bond is equal to 1,000 roubles. The issuance has semi-annual coupons.

During book building total demand for the bonds exceeded the nominal volume of the issue. Upon closure of the order book the issuer decided to set the rate of the first coupon at 13.10% per annum. The rates for the second to tenth coupon are equal to that of the first coupon. The initial guidance range for the first coupon was set at 12.9-13.1% per annum, which corresponded to a yield to 5-year put of 13.32-13.53% per annum.

The placement was organised by Sberbank CIB1, VTB Capital and Sovcombank.

FCT is one of the main operating subsidiaries of Global Ports group. FCT previously registered a RUB 30 bln bond programme, having announced that funds raised would be used to refinance the company's debt portfolio.