Sibur may issue bonds for 10 bln roubles, looks at euro bonds

​Sibur, which offered bonds for 10 bln roubles in March, might issue papers for the same volume, the managing director for economy and finance, A. Petrov, said.

We watch the euro bonds market, the announced deal of NLMK, Evraz and Sovkomflot. We monitor the market of the Russian bonds and may make an offer any time as the issue of bonds in roubles allows to attract funds cheaper than the bank financing, he said.

 In particular, a successful book building of Gazprom Neft confirms the continual high-quality demand from the part of investors. A reasonable benchmark in rouble bonds is the issue for 10 bln roubles, A. Petrov added.

Last time the company made an offer in the local market of bonds in March. It offered bonds of the 10th series at the volume of 10 bln roubles.

The rate of ht 1-10th coupons was set at 10.5% per annum. The offer was made for 5 years. It was the first deal in the market of rouble corporate bonds of non-bank issuers at such a low rate for the past 2 years. The total demand exceeded 30 bln roubles.