The Siberian Coal & Energy Co. (SUEK) placed its first-ever international public debt offering, securing a $500 million Eurobond transaction, maturing in September 2026, with a coupon rate of 3.375% per year. An oversubscription was achieved (over three times), driven by the participation of more than 100 investors across Russia, Continental Europe, the United Kingdom, the United States, Middle East and Asia.
“The success of the placement reflects strong market fundamentals and investor confidence in our robust and diversified business model,” SUEK CEO Stepan Solzhenitsyn said.
SUEK CFO Andrei Vanyushin said, “The placement created a new market benchmark for BB-rated names, and became the lowest yield ever for a Eurobond offering by a sub-investment grade Russian corporate issuer.”
“This transaction allows us to further diversify our financing base, increase the share of fixed-income and public debt instruments in our portfolio,” he said. “The proceeds will go toward refinancing of existing liabilities and extending the maturity profile of the company’s debt portfolio.”
