Russian Railways fully place 15 bln rubles in fifteenth-series bonds

30.06.2009 (11:23)

Russian Railways completed the placement of 15 billion rubles worth of fifteenth-series bonds in a public subscription on the MICEX Stock Exchange on Monday, the company said in a statement.

The rate of the first coupon was 14.25%.

The placement was arranged by VTB Capital, Gazprombank, Sberbank, TransCreditBank and Troika Dialog.

The seven-year non-convertible interest-bearing bonds have 14 coupons. An offer is envisioned in 3.5 years. The bonds were assigned state registration number 4-15-65045-D.

The interest rate on coupons two through seven will be adjusted every six months based on changes to the average fixed direct repo rate for repo deals made by the Central Bank for a period of seven calendar days, reports Interfax.

The company will use the funds to finance infrastructure projects as part of its investment program.

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