MOSCOW, Nov 25 (PRIME) -- Russian real estate developer Pioneer Group plans to offer at least 5 billion rubles of 4-year exchange bonds in the first half of December, a banking source told PRIME on Monday.
The first coupon’s guidance is 10.25–10.75% annually, which corresponds to a yield of 10.65–11.19% annually to maturity.
The issue carries quarterly coupons and redemption through amortization of debt.
Alfa-Bank, BCS Global Markets, Otkritie Financial Corporation Bank, Gazprombank, and Credit Bank of Moscow will act as the organizers of the placement.
(63.7101 rubles – U.S. $1)
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