TMK Goes Through with 10bn RUR Bond Issue
6 June 2017 (11:56)
UrBC, Yekaterinburg, June 6, 2017. One of the world’s largest OCTG manufacturers Pipe Metallurgical Company (TMK) went through with a 10bn RUR bond issue at Moscow Exchange on June 2, 2017. The bonds are to be in circulation for a decade, TMK press service reports.
The plan is to pay the bond holders bi-annual coupon yields at 9.35% a year, with a buy-back option in four years within the date of issuance.
The bond issue was coordinated by Alfa-Bank, ATON, VTB Capital, Gazprombank, BrokerCreditService Company, Sovcombank, and UniCreditBank. VTB Capital acted as the placement agent for the issue.
‘TMK thus made another improvement in its current debt structure. The new bond issue will help us cut down both on debt servicing expenses and on the share of our short-term debts,’ says TMK Deputy Director for Strategy & Development Vladimir Shmatovich.
The plan is to pay the bond holders bi-annual coupon yields at 9.35% a year, with a buy-back option in four years within the date of issuance.
The bond issue was coordinated by Alfa-Bank, ATON, VTB Capital, Gazprombank, BrokerCreditService Company, Sovcombank, and UniCreditBank. VTB Capital acted as the placement agent for the issue.
‘TMK thus made another improvement in its current debt structure. The new bond issue will help us cut down both on debt servicing expenses and on the share of our short-term debts,’ says TMK Deputy Director for Strategy & Development Vladimir Shmatovich.
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