OREANDA-NEWS. The order book was closed for Metalloinvest JSC's series BO-02 and BO-08 bonds worth RUB 10 bln and RUB 5 bln respectively. The bonds have a maturity of 10 years (3,640 days), and a coupon period of 182 days. The bonds have a 5-year put option, and a nominal price of RUB 1,000. The placement price is 100% of the nominal.

The initial guidance for the first coupon was set at 11.25-11.50% per annum, which corresponds to a yield to put of 11.57-11.83% per annum.

During book building the guidance was lowered three times, first to 11.00-11.25% (yield to put of 11.30-11.57% per annum), then to 11.00-11.15% (yield to put of 11.30-11.46), and then to 10.95-11.10% (yield to put of 11.25-11.41%). The final guidance for the first coupon of Metalloinvest JSC's bonds was set at 10.95%.

52 investor bids were received and overall demand exceeded RUB 35 bln. Considering the market situation, offering price, coupon rate of the bonds and demand, the issuer decided to accept 30 investor bids, and set the rate for the first coupon at 10.95% per annum.

Metalloinvest JSC currently has two issues of exchange bonds worth RUB 15 bln, five series of classic bonds worth RUB 35 bln, and two issues of Eurobonds worth USD 1.75 bln in circulation.

The placement was organised by Sberbank CIB, VTB Capital JSC, and Rosbank PJSC. Sberbank CIB was also the placement agent.