Date: a month ago   Category: Transport

GTLK placed eurobonds for $500 million — Rambler News Service


The State Transport Leasing Company (STLC) placed at the Irish exchange Euronext Dublin issue of eurobonds for the sum of $500 million, it is said in the statement of the company. Circulation period of bonds - six years, till April 17, 2025. The rate of the coupon was 5.95% per annum, papers have the semi-annual coupon period, payment of the nominal sum of release is provided in date of repayment. As the issuer the GTLK Europe Capital DAC company – the specialized company on attraction of external financing for the benefit of the GTLK group registered in Ireland and which is in 100% of property of GTLK Europe DAC acted. On release the guarantee of GTLK and GTLK Europe DAC is provided. Banks J. P. Morgan, Societe Generale, Renaissance Capital, Gazprombank, VTB Capital and Sovcombank acted as joint organizers of release. The funds raised from placement will be used on general corporate purposes, including on refinancing of the debt nominated in dollars. BB scores from the Fitch and "Ba2" agency from the Moody's agency were assigned to issue of eurobonds. As the company notes, the new issue of eurobonds of GTLK attracted great interest from the international investors. About 70% of release were got by investors from Great Britain, Germany, Austria, Switzerland and other countries of continental Europe. Allocation to the Russian investors made 21%. The most part of release was acquired by the investment funds and management companies specializing in long-term investments, about 40% of release redeemed banks. At the time of placement of new issue of eurobonds two issues of eurobonds of GTLK with a total nominal amount of $1 billion were in circulation. The debut issue of eurobonds of GTLK of $500 million with repayment in 2021 was placed in July, 2016 under 5.95% per annum. In 2017 the company placed the second issue of eurobonds for the term of 7 years with a rate of the coupon of 5.125% per annum.

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