The order book for the acquisition of VEB-Leasing's series 12 and 13 bonds, worth $305 million, was closed on November 6.
During the book building, the company received 54 investor bids with the coupon rate falling between 7.90 percent and 8.50 percent annually.
Investor demand for the bonds amounted to $579 million. As a result of book building, the first coupon was set at 8.25 percent annually. Amortization of the principal will take place with 12.5 percent upon payment of the 3rd to 10th coupons.
Given the market situation, placement price, coupon rate and demand for the bonds, VEB-Leasing made the decision to accept 42 investor bids.
Settlements for the deal tool place with the bond placement on the MICEX Stock Exchange on Nov. 12.
The placement was organized by Sberbank CIB, VEB Capital and VTB Capital.
Established in 2003, VEB-Leasing's sole shareholder is Vnesheconombank - the state corporation Bank for Development and Foreign Economic Affairs. VEB-Leasing specializes in the leasing of high-tech equipment, rolling stock, aircraft, marine and river vessels, vehicles and specialized equipment.
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