The gold mining company Polyus has placed an issue of Eurobonds for $ 700 million with a maturity of seven years at a coupon rate of 3.25%, Denis Shulakov, first vice president of Gazprombank, one of the organizers of the placement, told Vedomosti.
Polyus has successfully closed the order book for the issue of Eurobonds with a coupon rate of 3.25%, which is a record low for the company, and a maturity of 7 years. The deal took place in conditions of increased volatility in the commodity and financial markets in general, ”said Shulakov.
According to him, the company plans to use most of the attracted funds to finance the simultaneous redemption of circulating Eurobonds in order to optimize the corporate debt portfolio.
Initially, Polyus planned to buy back the outstanding bonds for no more than $ 500 million. However, the active participation of Eurobond holders in the tender increased the volume to be purchased by more than 20%, resulting in the total purchased volume of $ 650 million, Shulakov explained. He noted that the volume of the order book at its peak reached $ 1.4 billion. 41% of the orders were in continental Europe, 38% in Russia, 20% in the UK and the USA, 1% in Asia.
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