LOESK Issuer Places Exchange Bonds Worth 1 Billion Rubles

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Leningrad Oblast Energy Systems Company (LOESK) Successfully Issues Exchange-Traded Bonds Worth 1 Billion Rubles

LOESK has successfully placed 1 million bonds, each with a nominal value of 1,000 rubles, through an open subscription.

The bonds have a circulation period of 3 years, with a 2-year put option (offering investors the right to sell back the bonds to the issuer after 2 years).

The coupon period is set at 30 days.

The coupon rate until the put option is fixed at 18.00% per annum, based on the results of the order book collection.

The initial guidance for the first coupon rate was set at no higher than 18.50% per annum.

The initially planned issue volume was up to 1 billion rubles. Following the order book collection, the loan amount was set at exactly 1 billion rubles.

Sovcombank acted as the organizer and placement agent for the bond issue.

This overview was presented by Alexei Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management of the "Higher School of Management" Faculty at the Financial University under the Government of the Russian Federation.