Bank GPB International S.A. is pleased to inform that it has acted as a Joint Lead Manager in an offering of debt securities issued by Polyus Gold International Limited in an aggregate principal amount of USD 500 Mio 4.699% Notes due 28 March 2022.
The “benchmark” size transaction has been announced with the initial price thoughts at “5% area” and final pricing far outside this range. The Lead manager’s well-chosen tactics and strong interest from foreign investors resulted in the order book being oversubscribed, with the deal closing at 4.70%.
Final demand from investors exceeded USD 1.5 bn (27% of overall demand coming from Continental Europe investors).
It is important to note that the issue of bonds has been placed with minimal new issue premium to the secondary curve of Polyus Gold Eurobonds, solid evidence of strong interest from global investors in high quality Russian risk, even when the markets are highly volatile.