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Issue information:
| • Issuer, issue number: |
ALROSA, 2014 |
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| • Type of bond:
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Eurobonds |
| • Issue status: | outstanding |
| • Offering: | public |
| • Par, currency of issue: | USD, 1000000 |
| • Amount: | 500 000 000 |
| • ISIN: | XS0205828477 |
| • Start of placement: | Nov 09 2004 |
| • End of placement: | Jan 26 2005 |
| • Issue price: | 99.511 |
| • Yield at Pricing: | 8.95% |
| • Coupon: | 8.875% |
| • Coupon frequency: | 2 time(s) per year |
| • Settlement date: | Nov 16 2004 |
| • Maturity date: | Nov 17 2014 |
| • Arrangers: | ING and JP Morgan
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| • Trading floor, listing category:
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Luxembourg S.E. |
| • Issue ratings: (rating history) |
| Standard&Poor's |
BB |
Int. Scale (foreign curr.) |
08/20/2002 |
| Moody's |
Ba2/Stable |
Int. Scale (foreign curr) |
08/18/2006 |
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| • Additional information: | The bond was placed on 144a basis. The source said the bond sold at 99.511 percent, and that demand had way outstripped supply, with the banks receiving $1.7 billion in orders with 188 accounts involved.
Geographic breakdown was US – 42%; UK bought 17%; 17% went to Asia; Germany and Switzerland took 6% and 5% respectively, 4% went to Russia; other Europe took 15%.
By investor type, 50% sold to Asset Managers; 21% to Banks; 19% to Private Banks and Investment Funds took 10%.
Borrower: Alrosa Finance SA
Guarantor: Alrosa Company Limited
Issue Amount: $300 million
Reoffer price: 99.511
Spread: 473.4 basis points
Underlying govt bond: Over the 10-year UST
Ratings: B2 (Moody's), B (S&P)
Full fees: 0.85 pct
Denoms: (K)100-1
Governing Law: English
Negative pledge: Yes
Force Majeure: Yes
Cross Default: Yes
On Jan 20th, 2005ALROSA has priced USD200 million in debt financing through a tap of their outstanding 2014 Notes. The notes were priced at 102.250% and will bear an annual interest rate of 8.875%, for a yield to maturity of 8.528%.
The spread over the 10 year US Treasury was 432 basis points, or 41 basis points inside the spread on the original tranche raised in November 2004. That time ALROSA placed 10-year bonds worth USD300 mln at 8.875% p.a..
The order book for the increase topped USD500 mln and contained 100 accounts by the time of pricing. Many investors had bought the original deal in November and were topping up their allocations, although some new accounts did take part. Investors were from a broad geographic mix: 13% Asia, 42% Europe and 45% the United States. Banks accounted for 16% of the Notes, Asset Managers 54%, Private Banks 22%, and Insurance and Pensions Funds 8%.
The issuance of the notes is expected to close on January 26, 2004.
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| • Files:
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AlrosaFinance14 Prospectus1104
AlrosaFinance14 Prospectus0105 Tap
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| • Investment banks:
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Lead manager(s):
ING Wholesale Banking London
JP Morgan
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Borrower:
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Trading info (OTC Market, Jan 06 2009):
| Quote bid/offer:
| 63/65 |
| YTM bid/offer:
| 20.78%/19.91% |
| Weighted average price (Jan 06 2009):
| 64 |
| YTM:
| 20.34% |
Trading info, archive >>> |
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Payment schedule:
| Date |
Coupon, % p.a. |
Coupon size, USD |
Par redemption, USD |
Notes |
| 17.05.2005 |
8.875 |
44375 |
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| 17.11.2005 |
8.875 |
44375 |
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| 17.05.2006 |
8.875 |
44375 |
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| 17.11.2006 |
8.875 |
44375 |
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| 17.05.2007 |
8.875 |
44375 |
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| 17.11.2007 |
8.875 |
44375 |
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| 17.05.2008 |
8.875 |
44375 |
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| 17.11.2008 |
8.875 |
44375 |
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| 17.05.2009 |
8.875 |
44375 |
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| 17.11.2009 |
8.875 |
44375 |
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| 17.05.2010 |
8.875 |
44375 |
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| 17.11.2010 |
8.875 |
44375 |
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| 17.05.2011 |
8.875 |
44375 |
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| 17.11.2011 |
8.875 |
44375 |
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| 17.05.2012 |
8.875 |
44375 |
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| 17.11.2012 |
8.875 |
44375 |
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| 17.05.2013 |
8.875 |
44375 |
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| 17.11.2013 |
8.875 |
44375 |
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| 17.05.2014 |
8.875 |
44375 |
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| 17.11.2014 |
8.875 |
44375 |
1000000 |
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| COMMENTS:13.11.07 ING Wholesale Banking Russia:
CIS Fixed Income Daily
- Federal government to get a majority stake in Alrosa
EURO|BONDS|MM|CURR
|
Bid prices | Ask prices |
| Company | Date and time | Bid price |
Yield | Amount | Terms | Company | Date and time | Ask price |
Yield | Amount | Terms |
| MDM Bank | 07.01.2009 |
63.0000 |
20.78 |
500000 |
Daily indicative quotes |
Troika Dialog Investment Company |
07.01.2009 |
67.0000 |
19.09 |
250000 |
Daily indicative quotes |
| Troika Dialog Investment Company | 07.01.2009 |
63.0000 |
20.78 |
250000 |
Daily indicative quotes |
MDM Bank |
07.01.2009 |
67.0000 |
19.09 |
500000 |
Daily indicative quotes |
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