– Foreign investors acquired a large part of the Eurobond issue, gold miner Petropavlovsk – they accounted for 66% of the outstanding volume, said the organizers of the issue “VTB Capital” and Sberbank CIB.
Petropavlovsk on Tuesday placed 5-year Eurobonds for $500 million under 8,125%. This is the first classic issue of Eurobonds of the company, until now it was placed only in convertible bonds. Demand for debt papers of the gold miner oversubscribed 1.5 times.
“34% of the issue went to investors from Russia, 24% – to investors from the European Union, 22% was bought by investors from the UK, 17% from USA, investors from the Middle East and Asia accounted for 3%”, – told reporters the head of debt capital markets “VTB Capital” Andrey Soloviev.
“The volume of the host puts this deal in several major transactions among Russian borrowers in the mining sector. The demand from foreign investors amounted to two-thirds of all investors. This in all respects successful, the deal will allow the company to refinance its Bank debt and concentrate on the coming years in their investment projects,” said managing Director, capital markets, Sberbank CIB Olga Gorokhovskaya.
According to the organizers, a total of Eurobonds, the company received more than 90 applications.
Petropavlovsk conducts industrial testing of gold deposits in the Amur region (Pokrovsky mine, pioneer, Malomir and Albyn). The company’s largest shareholder with a share of over 22% are the structures of Viktor Vekselberg.