MTS-Bank has set the benchmark for the rate of the 1st coupon of 3-year bonds of the 001P-02 series with a volume of at least 3 billion rubles at a level not exceeding 10.20% per annum, a source in the financial market told Interfax.
The benchmark corresponds to a yield to maturity of no more than 10.60% per annum.
The collection of applications was held on July 29 from 11:00 to 16:00 Moscow time.
The organizers are BCS Global Markets, Gazprombank, Loko-bank, Credit Bank of Moscow, Rosbank and IFC Solid.
The placement will take place on August 5th.
Covenants will be provided for the bank’s bonds: in particular, the right of investors to present bonds for early redemption in the event of a decrease in the share of MTS PJSC below the control one. MTS directly and/or indirectly owns the issuer by 99.8%.
On July 15, MTS-Bank already carried out pre-marketing of this issue with a lower yield: the volume of the issue was expected to be 5 billion rubles, the yield target was no higher than 230 bp. to OFZ for a period of 3 years, but postponed the placement of the loan, citing market conditions.