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SIBUR to place bonds for Rb10 billion

July 06/2021

MOSCOW (MRC) -- SIBUR, the largest petrochemical complex in Russia and Eastern Europe, will place exchange-traded bonds totalling Rb10 billion, with a maturity of 10 years, said Finanz with reference to the company's statement.

Thus, the company will place 10 million exchange-traded bonds with a par value of Rb1,000 each.

Bids for the purchase of BO-03 series bonds will be accepted from 11:00 to 15:00 Moscow time on July 6, according to the statement.

As reported earlier, in May 2020, SIBUR Holding closed the order book for the placement of exchange-traded bonds of two series in the volume of Rb10 and 5 billion, respectively. Based on the results of the book formation, the semi-annual coupon rate was set at 5.50% per annum, which is the lowest coupon among the market issues of corporate issuers in the entire history of the modern Russian public debt market. The nominal value of one bond is Rb1,000. The placement price is 100% of the face value. The maturity date is 10 years from the date of commencement of the placement. The coupon period is 182 days. The term until the offer is 2.5 years.

As MRC informed previously, SIBUR is ready to quickly conduct an initial public offering (IPO) upon receipt of an appropriate decision of shareholders, the company is structurally ready for placement, the head of the company Dmitry Konov said to reporters in sidelines of the international industrial exhibition "Innoprom". At the same time, in case of an IPO, SIBUR may place its shares on the Moscow Exchange, D. Konov added.

It was also reported that in June,, 2021, the international rating agency S&P Global Ratings confirmed the long-term issuer default rating of the Russian petrochemical company SIBUR at "BBB-" with a "stable" outlook.

SIBUR manufactures and sells petrochemical products on the Russian and international markets in two business segments: olefins and polyolefins (polypropylene, polyethylene, BOPP, etc.), as well as plastics, elastomers and intermediate products (synthetic rubbers, expanded polystyrene, PET, etc.)
Author:Margaret Volkova
Tags:petrochemistry, Sibur Holding, Russia.
Category:General News
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