Kirovsky Zavod completes placement of RUB 2.69 billion in bonds

On 18 March, Kirovsky Zavod completed placement of 2.69 million series 02 bonds with a par value of RUB 2.69 billion. This represents 100% of the total volume of bond issuances. The bonds’ term to maturity is five years.

The first coupon rate is set at 9.5% per annum. Heightened interest from institutional and private investors testifies to Kirovsky Zavod’s high credit quality. The demand at close exceeded the expected initial volume of the loan placed by more than 30%.

The duration of the coupon period is 91 days, with a bond offering price of 100% of par value. There are 2.69 million individual bonds with a par value of RUB 1,000. The issuer will repurchase the bonds in three years at 100% of the par value. The bonds’ term to maturity is five years. 

The terms of the issue were approved as part of the series 001Р bond programme, registration number 4-00046-A-001P, dated 11 March 2020. The book building for the series 02 bonds was held from 11:00 to 16:00 (Moscow time) on 15 March 2021.