DeloPorts completes its debut 3 billion Ruble bond placement. The bonds mature in 10 years with a call after year 3. The annual coupon rate was set at 13.80% and a yield of 14.28%.
Series 01 notes were registered by the Central Bank on 20 October 2015, registration number № 4-01-36485-R.
Raiffeisenbank and Sovcombank acted as bookrunners of the placement. Raiffeisenbank acted as the placement agent.
"The debut offering opened the capital markets for DeloPorts, which diversifies sources of funding ahead of the new stage of the investment program. The Ruble bond placement is also an important step in building a public investment story, - says Andrey Bubnov, Chief Financial Officer of Delo Group. DeloPorts is a new name for the market and we are happy that investors appreciated it."“The new stage of DeloPorts investment program is planned to be completed in 2018. The program includes an increase in throughput capacities of KSK grain terminal to 5 million tonnes and construction of a new deepwater berth at NUTEP container terminal. The projects may double the Сompany’s throughput due to ability to handle larger ships, which will make NUTEP and KSK leaders in their respective market segments”, - adds Igor Yakovenko, CEO of DeloPorts.