Most of UC Rusal’s debut eurobonds bought by foreign investors

Nadezhda Ivanova's picture

Most of the UC Rusal’s debut eurobonds have been acquired by foreign investors, 65% of which are funds and 27.2% - banks, sources in the banking circles report.

On the whole, 168 candidates are listed in the order book.

Most orders for the bonds were received from investors from continental Europe - 27% of the placement, from investors from the United States - 19%, UK investors bought 17.5%, Asian ones - 15.5%, investors from the Middle East - 1%.

The share of Russian investors made up 19.5% of the issue.

Last night, UC Rusal defined the parameters of the issue of the 5-year eurobonds – the coupon rate of the debt securities for $600 million was set at the level of 5.125%.

The company stated that the proceeds from the eurobonds issue would be used to refinance the existing loans.

UC Rusal entered the Eurobond market for the first time, previously the company placed bonds only on the Russian market.

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