MOSCOW, April 19 (RIA Novosti) - Russian Communal System, the country's communal services utility, has placed 1.5 billion rubles ($54.4 million) in bonds on MICEX, with an annual coupon interest rate of 9.7%, Gazprombank said Wednesday.
Gazprombank, a subsidiary of Russian energy giant Gazprom and the bond issue's organizer and underwriter, said 81 requests with a coupon range of 8.25%-10.1% annual interest had been filed, and the total demand for bonds had been 3.1 billion rubles ($112.4 million). Forty four requests were granted.
"A wide range of investors, including banks, investment and insurance companies, as well as foreign participants, bought the bonds," Gazprombank said.
The bonds have a maturity term of three years. After 18 months since initial placement, bonds can be bought back from their owners.
