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.

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