TransContainer successfully placed domestic bonds
Jn 25 January 2018 PJSC TransContainer (-/Ва3/ВВ+/ruAA+) successfully placed on the Moscow Exchange its 5-year amortized exchange bonds series BO-01 in the amount of RUB 6 billion at a coupon rate of 7.5% p.a.
The book building took place on 23 January 2018. The total investors’ demand exceeded RUB 30 billion, during the book-building process the coupon guidance was narrowed twice from 7.75%-8.00% p.a. to the final rate of 7.5% p.a.
At the final rate the book was oversubscribed by two times. As a result, there was created a balanced and high-quality investor base comprising 30 accounts, including banks, investment and insurance companies, asset management companies and retail investors.
As a result, the coupon rate was set at a historically low level of 7.5% p.a., spreads to the RZD and OFZ yield curves tightened to the historical lows of 5 bp and 70 bp respectively .
Alfa-bank, Raiffeisenbank and VTB Capital acted as joint arrangers for the transaction, VTB Capital has also acted as a placement agent.