Date: a month ago   Category: Energy

Sibur plans to redeem ahead of schedule eurobonds for $200 million — Rambler News Service


Sibur plans to redeem ahead of schedule own eurobonds for the sum up to $200 million, it is said in the statement of the company. It is about issue of eurobonds which has been placed in October, 2017 for five years - till 2023 - under 4,125% per annum. The company is ready to redeem securities at the price of 97,4% from face value. "Sibur has exposed the offer on repayment of the only issue of eurobonds which is in circulation with repayment in 2023 and the coupon of 4,125% per annum placed in October, 2017 of $500 million. The company is ready to redeem eurobonds for the sum up to $200 million at the price of 97,4% from face value", - it is said in the statement. The dealer managers of repayment CitigroupGlobal Markets Limited and J. P. Morgan Securities Plc act. Applications for repayment will be accepted from October 9 to October 17, 2018, is planned to perfrom calculations for the transaction on October 19, 2018. The repayment carries out Sibur Securities DAC, (100% subsidiary of Sibur). For financing of the transaction the company will use the current excess liquidity. "The company shows high operational results and is provided with liquidity which will grow after start-up of a complex ZapSibNeftekhim. Therefore in the current market situation we see an opportunity for decrease in percentage payments and also effective use of the available liquidity", - the head of Sibur Dmitry Konov has explained. In October, 2017 Sibur has placed eurobonds for $ dollars 500 million with a repayment period in 2023 and a rate of the coupon of 4,125% per annum.

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