Russian property developer Sistema-Hals plans the launch of a second bond issue on April 21 to raise additional equity in order to restructure its debt. The company plans to issue RUB 2 bn in bonds with maturity in 2014. The Lead Manager of the bond issue is Renaissance Capital.
Russian property developer Sistema-Hals plans the launch of a second bond issue on April 21 to raise additional equity in order to restructure its debt. The company plans to issue RUB 2 bn in bonds with maturity in 2014. The Lead Manager of the bond issue is Renaissance Capital.
This week, Sistema-Hals fully placed three million bond securities with par value of 1,000 roubles (EUR 22.57) each. The bonds mature in 2014, the company said. The placement was lead-managed by Zao Raiffeisenbank and the proceeds, a total of EUR 67 mln, will be used to restructure the company's debt.
Sistema Hals was the first Russian property developer to list its shares on the main market of the London Stock Exchange. The company's shares are also listed on the Moscow Interbank Currency Exchange and the Moscow Stock Exchange.
As of July 1, 2008, Sistema-Hals' portfolio was valued by Cushman & Wakefield at about $3.7 bn (EUR 2.8 bn).
