"Acron issues 1.5 billion yuan worth of bonds"

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Akron Issues 1.5 Billion Yuan in Bonds

Akron, a Russian chemical company, has successfully issued exchange-traded bonds (series BO-002P-02) worth 1.5 billion yuan at face value.

The company sold 1.5 million bonds, each with a face value of 1,000 yuan, through an open subscription.

The bonds have a circulation period of 2.6 years, with a coupon period of 30 days.

Repayment of the face value will be made in amortization installments: 50% on the dates of the 30th and 32nd coupon payments.

The coupon rate for the entire circulation period was set at 6.80% per annum following the tender process.

Initially, the coupon rate was expected to be in the range of 7.25-7.50% per annum.

The planned issue volume was increased from at least 1 billion yuan to 1.5 billion yuan during the tender process.

The placement agent was Tabula Rasa Investment Company.

Overview provided by Alexey Grishchenko, Ph.D., Professor of Operational and Sectoral Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.