The stock exchange bonds series BO-01 from Raiffesenbank was recently placed in the amount of $300 million on the Moscow Stock Exchange.
The book had an initial coupon guidance of 7.65-7.80 percent and had the ability to be set at below the lower border of initial guidance due to high investors' demand. Upon closing, the book had approximately two times oversubscription.
There is a five-year tenor on bonds series BO-01 and they have a coupon frequency two times per year. A put option is available at 100 percent of par value after two years from the date of placement and there is a coupon rate of 7.65 percent for the first four coupons. The next coupons will be determined by the issuer, which will fully meet CBR requirements for inclusion on the Lombard list.
The bond has a BBB long-term credit rating from S&P for international sale and an ruAAA rating on the local scale. The bond has a preliminary rating of BBB+ on the international scale and AAA on the local scale from Fitch Ratings.
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