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- RUSAL completes first 2020 ruble bond placement
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- RUSAL completes first 2020 ruble bond placement
02.06.2020
RUSAL completes first 2020 ruble bond placement
Moscow, 2 June 2020 – RUSAL (SEHK: 486; Moscow Exchange: RUAL), one of the leading global aluminium producers, announces the closure of the book building process for the new placement of its 10-year ruble-denominated bonds with a three year put option on the Moscow Exchange, the nominal value of 10 billion rubles and a coupon rate of 6.5% p.a., a record low for the Company.
During the book building the coupon rate guidance was lowered twice from the initial 6.55-6.75% range with the final coupon rate fixed at 6.5%. The new rate surpassed the record low bond rate set by RUSAL last year and became the lowest bond rate in the history of the Company’s placements.
“The successful issue of our ruble bonds coupled with the interest from the investment community has again demonstrated the strong backing for RUSAL’s strategy even in such a challenging and uncertain situation for the global economy. Notably, the historically low rate which we have fixed is just one percentage point higher than the key rate of Bank of Russia as of the date of the placement. We are pleased that our continued innovative development, new high-tech aluminum value added products and technological solutions aimed at reducing the carbon footprint of our operations continue to receive support from investors, and we plan to further strengthen these development priorities”, said Oleg Mukhamedshin, RUSAL’s Director for Strategy, Business Development and Financial Markets.
During 2019 RUSAL completed four ruble issuances with a total nominal value of 60 billion rubles.
The settlement will take place on the Moscow Exchange on June 9, 2020. The issuer is OJSC RUSAL Bratsk.
BCS, VTB Capital, Gazprombank, Moscow Credit Bank, Sberbank CIB, Otkritie Bank and OJSC Sovcombank managed the issuance. The settlement agent is Gazprombank.
During the book building the coupon rate guidance was lowered twice from the initial 6.55-6.75% range with the final coupon rate fixed at 6.5%. The new rate surpassed the record low bond rate set by RUSAL last year and became the lowest bond rate in the history of the Company’s placements.
“The successful issue of our ruble bonds coupled with the interest from the investment community has again demonstrated the strong backing for RUSAL’s strategy even in such a challenging and uncertain situation for the global economy. Notably, the historically low rate which we have fixed is just one percentage point higher than the key rate of Bank of Russia as of the date of the placement. We are pleased that our continued innovative development, new high-tech aluminum value added products and technological solutions aimed at reducing the carbon footprint of our operations continue to receive support from investors, and we plan to further strengthen these development priorities”, said Oleg Mukhamedshin, RUSAL’s Director for Strategy, Business Development and Financial Markets.
During 2019 RUSAL completed four ruble issuances with a total nominal value of 60 billion rubles.
The settlement will take place on the Moscow Exchange on June 9, 2020. The issuer is OJSC RUSAL Bratsk.
BCS, VTB Capital, Gazprombank, Moscow Credit Bank, Sberbank CIB, Otkritie Bank and OJSC Sovcombank managed the issuance. The settlement agent is Gazprombank.
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