Seligdar PJSC Places Bonds Worth 3.5 Billion Rubles

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Seligdar JSC Issues RUB 3.5 Billion Bond

Seligdar JSC, a Russian gold and rare metals mining company, has successfully issued RUB 3.5 billion worth of exchange-traded bonds (Series 001P-10) at face value.

Under the public offering, the company sold 3.5 million bonds, each with a face value of RUB 1,000.

The bonds have a three-year maturity period, with a coupon period of 30 days.

Amortization of the principal amount will be carried out in four equal installments of 25% each, on the dates of the 27th, 30th, 33rd, and 36th coupon payments.

The coupon rate for the entire term of the bonds was set at 16.65% per annum following the book-building process.

Initially, the first coupon rate was guided at no more than 17.50% per annum, and the planned issue size was increased from RUB 2 billion to RUB 3.5 billion during the book-building process.

The bond issue was organized by Gazprombank and Sovcombank, with Gazprombank acting as the placement agent.

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