Press releases

Press releases


RUSAL completes the final ruble bond placement this year
07.11.2019

Moscow, November 7, 2019 – RUSAL (SEHK: 486; Moscow Exchange: RUAL), one of the leading global aluminium producers, announces the close of the bookbuilding process for its fourth placement of ruble-denominated bond on the Moscow Exchange with the nominal value of 15 billion rubles, 10-year maturity and a 3-year put option. Coupon rate of 7.45% p.a. has become the record low for the Company.

The coupon rate has decreased several times during the bookbuilding: the initial guidance of 7.50-7.60% was first revised to 7.45-7.50%, and finally the deal was settled at 7.45% p.a. This is the record low coupon rate for the Company’s placement on the Russian market.

As a result, during 2019 RUSAL has competed four placements of ruble-denominated bonds with the total value of 60 billion rubles. The coupon rate was set lower with every issue – from 9.00% p.a. in April, when the first tranche was placed for the first time after a long break, to 7.45% for the final issuance in November.

“The successful issue of ruble bonds throughout the course of this year has demonstrated the high level of trust which the investment community continues to place in RUSAL, and reinforces the current relevance of the Company’s strategic goals – such as the reduction of our carbon footprint and the introduction of technological innovations through the development and promotion of new aluminium products”, said Oleg Mukhamedshin, RUSAL’s Director for Strategy, Business Development and Financial Markets.

Each time on the back of high demand the size of issuance was increased during the bookbuilding process as compared to the initial guidance, which is another evidence of the financial community’s interest and trust in the Company. 

The settlement will take place on the Moscow Exchange on November 14, 2019. The issuer is OJSC RUSAL Bratsk.

VTB Capital, Gazprombank, Moscow Credit Bank, Sberbank CIB, Bank Otkritie Financial Corporation, BCS Global Markets, Region BC and Sovcombank manage the issuance. The settlement agent is Gazprombank.


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