State Transport Leasing Company issues $500 million bond

State Transport Leasing Company issues $500 million bond

Russia’s State Transport Leasing Company (STLC/GTLK) has issued a $500 million Eurobond at 5.125%. The bond is set to mature 31 May 2024.

This comes off the back of a Ru10 billion ($177 million) domestic bond issued in April. The proceeds from this latest bond will be used for general corporate purposes.

The bond has been assigned a rating of BB by Fitch and Ba3 by Moody’s. STLC is rated BB by Fitch (upgraded on 16 May), Ba2 by Moody’s and BB- by S&P Global Ratings.

Sergei  Hramagin, CEO of STLC said: “STLC is currently the only Russian leasing company raising funds through Eurobond issuances. Taking into account a debut Eurobond issue placed last year, we have managed to raise as much as $ 1 billion and continue our successful activity aimed at further diversification of funding sources. I would also like to mention STLC’s teamwork and continuing support from our shareholder – the Ministry of Transport of the Russian Federation – as key factors making this transaction a success.”

Issuer: STLC (GTLK)
Type: Eurobond
Size: $500 million
Maturity: 31 May 2024
Coupon: 5.125%

Alex Baldwin
By Alex Baldwin June 5, 2017 12:27