TransCreditBank arranged the 15th bond issue by JSC RZhD

On June 29, 2009 JSC Russian Railways placed its 15th series bond by open subscription at MICEX. The issue was arranged by TransCreditBank, Sberbank of Russia, VTB-Capital, Gazprombank and IC Troika Dialog. 

The size of the issue is RUR 15 bn. Par value of each bond is RUR 1.000. The issue matures in 7 years and carries 14 semiannual coupons. The coupon rate will be adjusted every 6 months to reflect changes of the fixed rate on REPO transactions made by the Bank of Russia for 7 calendar days. The first coupon rate is 14,25 % p.a.  investors may benefit form the put option exercisable 3,5 years after the launch date.

The issue was fully placed. Proceeds of the issue will be used to finance infrastructure projects under JSC RZhD’s investment program and financial plan.

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