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Russia’s Sibur floats $500 mln worth Eurobonds — source

September 28, 21:48 UTC+3

Investors showed high interest in Sibur’s credit and investment history during the roadshow in Europe and in the United States

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MOSCOW, September 28. /TASS/. Russian petrochemical holding Sibur completed the offering of its six-year Eurobonds in the amount of $500 mln with the interest rate of 4.125% per annum, a source on the financial market told TASS on Thursday.

"The offering volume is $500 mln; the coupon rate is 4.125% per annum," the source said.

First Vice President of Gazprombank [one of offering organizers - TASS] Denis Shulakov confirmed these data for TASS.

"The market entry took place in conditions of higher volatility and remaining anxiety in two recent days," the banker said.

Investors showed high interest in Sibur’s credit and investment history during the roadshow in Europe and in the United States, Shulakov said. "The bid book is almost 3.5 times oversubscribed. Leading Western asset managers, financial companies and banks were among participants," he added.

The demand for Sibur Eurobonds was over $1.7 bln and the final yield guidance was set at the level of 4.1-4.25% per annum, the source told TASS earlier.

Sibur offers new Eurobonds for the purpose of redeeming already circulating securities mature in 2018. ING, J.P. Morgan, Goldman Sachs, Sberbank CIB and Gazprombank were appointed as organizers of the offering.

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