The demand for bonds of JSC SIBUR Holding of the 001R-01 series with a volume of 15 billion rubles and a circulation period of 3.5 years more than five times exceeded the supply, according to the issuer’s press release.

“The issue was met with record high demand from the investment community: during book building, more than 5-fold oversubscription was formed, which allowed several times to revise the marketing range downward and close the book at a coupon rate of 9.15% per annum – 40 bp below the initial benchmark,” the company said in a statement..

The issue was widely distributed among investors: more than 60 applications were submitted to the book. Banks, NPFs and management companies, investment companies, insurance companies, as well as private investors took part in the transaction.

The collection of applications for the issue was held on June 30. Initially, the benchmark rate of the 1st coupon was no higher than 9.55% per annum, during marketing it decreased three times.

The organizers are Gazprombank (MOEX: GZPR) and Credit Bank of Moscow (MOEX: MCX:CBOM).

Technical placement is scheduled for July 8.

This issue will be the first loan placed under the issuer’s 25 billion rubles bond program registered by the Moscow Exchange (MOEX: MOEX) in November 2021.

Currently, there are three issues of the company’s exchange-traded bonds for 25 billion rubles and 11 issues of exchange-traded bonds denominated in foreign currency for $3.024 billion, as well as three issues of Eurobonds maturing in 2023-2025 for a total of $1.3 billion.