TMK Goes Through with 5bn RUR Bond Issue

UrBC, Yekaterinburg, April 27, 2017. Pipe Metallurgical Company (TMK) went through with a 5bn RUR bond issue at Moscow Exchange on April 25, 2017. The bonds are to be in circulation for the next decade, TMK press service reports.

There’s a biannual coupon yield repayment and a buy-out option in three years’ time. The coupon interest rate comes to 9.75% a year.

The loan was underwritten by Alfa-Bank, OOO Aton, VTB Capital, and Sovkombank, with the issue coordinated through VTB Capital.

‘TMK keeps working on improving its debt book structure. The goal is to cut down on debt servicing costs and prolong the debt repayment period. We are quite satisfied with the way this issue turned out: the demand for the bonds outstripped the amount of issued ones by quite far,’ says TMK Deputy Director-General for Strategy & Development Vladimir Shmatovich.


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