SIBUR raises USD 500 m in 5-year Eurobonds at 2.95%, the lowest coupon ever

Moscow, 01 July 2020. SIBUR Holding, Russia’s largest integrated petrochemicals company, announces it has raised USD 500 m following the offering of 5-year Eurobonds on the Irish Stock Exchange. The coupon rate is 2.95%, which is a record low for Russian corporate issuers. The coupon will be paid twice a year. The Eurobond proceeds will be used to optimise the Company’s loan portfolio and for general corporate purposes.

Bank GPB International S.A., Citigroup Global Markets Limited, Goldman Sachs International, J.P. Morgan Securities plc and VTB Capital plc acted as the leading coordinators and bookrunners. The order book topped $1 bn. The Eurobonds were sold to 94 investors. The issue was rated Baa3 by Moody’s and BBB- by Fitch.

Alexander Petrov, member of the Management Board and Managing Director for Economics and Finance at SIBUR, commented:

“The resilience of SIBUR’s business and its growth potential are highly valued by investors, which is confirmed by the reaffirmation of the Company’s investment-grade credit ratings from the three leading agencies. The record low coupon rate at which the Eurobonds were offered testifies to investors’ confidence in SIBUR as a high quality borrower."