Geotech Seismic Services Placed Debut Issue of 5-year Bonds Worth RUR 3 Billion
IG Seismic Services PLC (“IGSS” or the “Company”, LSE: IGSS), the leading pure-play land and transition zone seismic company in Russia and the CIS and one of the largest land seismic companies globally, announces that GEOTECH Seismic Services (S&P rating: B), the largest geophysical company, a member of IGSS, closed order book for its debut issue of series 01 bonds worth RUR 3 billion. The bonds mature in five years and have a put option after three years.
2013 GEOTECH Seismic Services (S&P rating: B), the largest geophysical company, a member of IGSS Group, closed order book for its debut issue of series 01 bonds worth RUR 3 billion. The bonds mature in five years and have a put option after three years.
During bookbuilding 25 investor bids were received and the offering was oversubscribed. Upon conclusion of bookbuilding the issuer made the decision to set the first coupon rate at 10.50% per annum – at the lower end of the marketing range of 10.50-11.00% per annum.
Settlements under the deal will take place on the MICEX stock exchange on the placement date of October 23, 2013.
The placement was organised by VTB Capital and Sberbank CIB1.