DTEK places USD 600 mln, five-year bond with 7.875% coupon

DTEK places USD 600 mln, five-year bond with 7.875% coupon



28 березня 2013 года
Конкорд Капитал

Ukraine’s leading utility holding DTEK (DTEKUA) placed USD 600 mln in five-year notes at 98.989% of par, the company announced on March 27. The 7.875% coupon note therefore is priced at a 8.125% yield, or 135 bp above the sovereign curve. The company intends to use USD 321 mln of the attracted funds to repurchase 60% of its 2015 Eurobond (issued in 2010 with a 9.5% coupon at a USD 500 mln total). The new debt will only marginally increase DTEK’s gross debt/EBITDA ratio to 1.6x from 1.36x (as of end-2012), far below the 3.0x covenant of the 2015 notes.

Источник: Конкорд Капитал

Другие обзоры облигаций от Конкорд Капитал


Компании

все компании