On 20 September 2016 г. PJSC TransContainer (-/Ва3/ВВ+) closed the book for a five year amortizing bonds in the amount of RB 5 billion at a 9.4% coupon rate.
The total demand exceeded RUB 21 billion, during book-building process the coupon guidance was narrowed twice from the initial coupon range of 9.5%-9.75%.
As a result of the book-building process the final coupon rate was set at 9.4% p.a., 10 basic points below the low end of the initial coupon range. The bond issue was allocated among 25 banks, asset managers and investment companies.
Despite increased volatility in the financial markets and an increase in OFZ yields the final coupon rate was set well below the key rate of the Bank of Russia and is comparable to the recent public borrowings of sovereign-rated corporate issuers.
The bond is to be placed on the Moscow Exchange on 22 September 2016. Alfa Bank, VTB Capital and Raiffeisenbank acted as joint bookrunners. VTB Capital acted also as a placement agent.