Uranium One Announces Series 01 Ruble-denominated Bonds Placement
Toronto. December 8. Kazakhstan Today - Uranium One placed series 01 RUB-denominated bonds totaling RUB 14.3 bln, maturing in 10 years after the placement date. The bonds imply a put-option in 5 years after the placement date, Kazakhstan Today reports.
The issuer fixed the coupon rate at the level of 9.75% p.a. The bonds placement by Uranium One is the first ever ruble-denominated bonds issuance by a foreign corporate in Russia. The issuer plans to use the proceeds from the bonds placement for general corporate needs. Ruble funds raised will be converted into US dollars via a cross currency and interest rate swap.
Troika Dialog and Gazprombank act as Lead Managers. RONIN is a co-Lead Manager.
According to Todd Berman, the Co-Head and Managing Director of the Investment Banking Department of Troika Dialog, placement of RUB-denominated bonds by Uranium One will become a reference case study for foreign borrowers who are interested in RUB liquidity (with consecutive cross-currency swap into operational currency) as well as in efficient management of borrowed funds. RUB-denominated bonds placement on the Russian debt capital market by foreign issuers is another step towards integration of the Russian Federation into the international capital market and establishment of the international financial center in Russia.
Uranium One Inc. is a company incorporated in Canada, one of the top world uranium producers with primary listing in Toronto and secondary listing in Johannesburg.
The company's mining assets are geographically diversified and located in Kazakhstan, the USA, and Australia. The majority shareholder, accounting for 51% of Uranium One stock is ARMZ, the uranium mining arm of the state Atomic Energy Corporation ROSATOM.
Troika Dialog: Founded in 1991, Troika Dialog is one of the leading full-service investment houses and asset management firms in the CIS. The company's business consists of securities sales and trading, investment banking, private wealth and asset management, direct and venture investments, retail distribution and alternative investment. Troika Dialog's operations are located in 21 cities across Russia plus offices in London, New York, Kyiv, Almaty and Nicosia.
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