RUSAL Sets 10% Coupon on New Yuan-Denominated Bond Issue

United Co RUSAL ( (HK:0486) ) has provided an update.

United Company RUSAL has disclosed the terms for a new series of exchange-traded, interest-bearing, non-convertible bonds denominated in Chinese yuan under its 001P bond programme. The BO-001P-16 series carries a nominal value of 1,000 yuan per bond and a maturity of 540 days from the start of placement, with identification codes yet to be assigned at the time of the announcement.

The company’s general director set the coupon rate for the first period at 10% per annum, translating to a coupon payment of 24.93 yuan per bond for that period. The same interest rate will apply to the second through fourth coupon periods, signalling a clear cost of funding for RUSAL’s yuan-denominated debt and providing investors with predictable fixed-income returns over the life of the issue.

More about United Co RUSAL

United Company RUSAL is a major international aluminium producer, operating as an international public joint-stock company incorporated in Jersey and continued in the Russian Federation. The company is listed in Hong Kong and on Russian exchanges, and focuses on issuing debt instruments in multiple currencies as part of its corporate funding strategy.

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