March 12, 2014 17:01
Inter RAO to choose organizer candidates by March 20 for debut Eurobond placement
MOSCOW. March 12 (Interfax) - OJSC Inter RAO UES (MOEX: IRAO) will choose candidates to organize the company's placement of ruble-denominated Eurobonds worth 15 billion rubles, according to company materials.
The bonds are planned to be placed in 2014-2015, and the issuer will be the company's wholly owned subsidiary Inter RAO Finance, registered in the Netherlands.
The Eurobonds are guaranteed by Inter RAO. They will mature in five years or more, depending on market conditions.
Bid envelopes for participation in the tender were opened on February 20, and a total of 14 companies expressed interest in being the organizer of the placement.
Framework contracts will be drawn up with the winners, and a subsequent round of talks will be held, after which the organizer will be chosen.
Inter RAO's finance director, Dmitry Palunin, has said the company could place debut Eurobonds at the end of 2014 or beginning of 2015 under favorable market conditions.
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