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FESCO announces the Book Building for Rouble Bonds Series BO-01

22 April 2015
FESCO (the parent company of FESCO Transportation Group) informs that the Rouble Bonds series BO-01 for the total amount of RUB 8.5 bln will be placed on April 27, 2015.

The acceptance period for offers by potential investors starts on April 22, 2015 at 11:00 a.m. Moscow time and ends on April 22, 2015 at 3:00 p.m. Moscow time.

The Rouble Bonds series BO-01 issue consists of 8.5 mln Bonds with the par value of RUB 1 thousand. The placing price is fixed equal to the par value. The Bonds circulation period is 34 months. Biannual coupons will be paid on the Bonds. The interest rate for the second, third, fourth, fifth, and sixth coupons is equal to the key rate of the Bank of Russia effective as of the date preceding the date of the relevant coupon period start, increased by 5% per annum, but it can be neither less than 11% per annum nor more than 19% per annum. The interest rate for the first coupon will be disclosed before the placement date. There is an option of the Bonds early redemption at the third coupon period end date.

Vneshprombank Ltd. is appointed as an underwriter.

The funds received from the Bonds placement will be mainly allocated for debt refinancing within FESCO debt optimization program, in particular, for the USD nominated Senior Secured Notes due 2018 and 2020 buyback. The Company is taking advantage of the current situation to improve the debt currency structure, reduce leverage, and maximize the shareholder value.

MICEX allowed trading FESCO Rouble Bonds series BO-01 in May 2010. At that time BO-01 issue amount was RUB 3 bln. In April 2015, the Board of Directors of FESCO made a decision on increasing the Rouble Bonds series BO-01 issue amount from RUB 3 bln to RUB 8.5 bln. MICEX approved the relevant amendments to the decision on the issue and the Rouble Bonds series BO-01 prospectus on April 21, 2015.

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