Media Room
25 Apr 2019
BCS Global Markets, VTB Capital, Gazprombank, Credit Bank of Moscow, Bank Otkritie Financial Corporation and Region BC managed the issuance

A wide range of institutional (banks, asset management, insurance and investment companies) and private investors have placed 45 orders during the bookbuilding process. High demand for RUSAL bonds has made it possible to close the book at the lower end of the initial price guidance of 9,00-9,25% p.a. On the back of more than 2 times oversubscription the volume was increased form initially announced 10.0 billion rubles to 15.0 billion rubles. As a result the spread of RUSAL bonds to the yield curve of Russian Government Bonds (OFZ) was reduced by almost three times as compared with the previous issuance that took place in April 2016, and was fixed at the level of 135 basis points. “RUSAL has successfully returned to its practice of raising capital on the financial markets.

“We are glad that investors remained confident and demonstrated a significant interest to the Company that continuously invests funds in the long-term projects and develops the production of “green” aluminium, further enhancing technological base and strengthening relationship with end consumers across various industries”, - said Oleg Mukhamedshin, Director for Strategy, Business Development and Financial Markets at RUSAL. This is the first public issuance by the Company since sanction removal. In January 2018, RUSAL issued US$500 million of Eurobonds. The Company’s previous issuance on the local Russian market was back in 2016. The settlement will take place on the Moscow Exchange on April 29, 2019. The issuer is OJSC RUSAL Bratsk. The settlement agent is Gazprombank. Company profile RUSAL ( is the leader of the global aluminium industry. In 2018, the Company accounted for about 5.8% of global production of aluminium and 6.2% of alumina production.