Russian real estate developer Sistema-Hals said on Friday that the placement of the second tranche of its rouble bond public offering was fully subscribed. The London-listed company has issued 2 million securities with par value 1,000 roubles each, raising a total of 2 bn roubles (EUR 45 mln). The bonds, with a coupon rate of 12%, mature in 2014.
Russian real estate developer Sistema-Hals said on Friday that the placement of the second tranche of its rouble bond public offering was fully subscribed. The London-listed company has issued 2 million securities with par value 1,000 roubles each, raising a total of 2 bn roubles (EUR 45 mln). The bonds, with a coupon rate of 12%, mature in 2014.
The lead manager of the bond issue is OOO Renaissance Capital - Financial Consultant. The company is going to use the proceeds of the bond issue to restructure its debt.
Last week, Sistema-Hals fully placed three million bond securities with par value of 1,000 roubles (EUR 22.57) each, raising a total of EUR 67 mln.
Sistema Hals was the first Russian property developer to list its shares on the main market of the London Stock Exchange. The company's shares are also listed on the Moscow Interbank Currency Exchange and the Moscow Stock Exchange. As of July 1, 2008, Sistema-Hals' portfolio was valued by C&W at about $3.7 bn (EUR 2.8 bn).
