Yandex sets coupon of $1.25 bln bonds at 0.75%, premium at 47.5% - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Yandex sets coupon of $1.25 bln bonds at 0.75%, premium at 47.5%

MOSCOW, Feb 26 (PRIME) -- Russian Internet company Yandex will offer U.S. $1.25 billion of convertible 2025 bonds at par with a premium of 47.5% to the weighted average price of the company on the Nasdaq on the day of placement, March 3, and a coupon of 0.75%, the company said on Wednesday in a statement.

The bonds will be converted into the company’s Class A ordinary shares. The bonds will pay the coupon on March 3 and September 3 every year with the first payment due on September 3.

Goldman Sachs is a global coordinator, while J.P. Morgan, Morgan Stanley & Co, UBS AG, London Branch, and VTB Capital are joint book runners.

Yandex will invest the money in corporate goals, including capital expenditure, strategic investment or acquisition and buyback of shares.


26.02.2020 09:14
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