Mostotrest closes order book for series 08 rouble bond issue


Public Joint Stock Company Mostotrest (hereinafter Mostotrest, the Company or the Group) on 5 August 2016 closed the order book for Mostotrest series 08 rouble bond issue. Investors were offered a RUB 5 billion tranche with a 10-years maturity and a 5-year put option.

The order book was opened on 5 August 2016 with an initial range for the coupon rate of 11.50-11.75% per annum. On the back of a strong investor interest during the book-building, the total demand within the initial range reached RUB16 billion, more than 3 times exceeding the offer.

The final coupon rate based on the book-building results was set at 11.15% per annum, which corresponds to 11.46% per annum YTP.

In total, more than 40 orders were submitted by a wide range of investors, including banks, investment companies, asset management companies and insurance companies.

The issue’s placement through a public subscription on Moscow Stock Exchange is scheduled for 10 August 2016.

VTB Capital acts as a Sole Lead Manager and Bookrunner of the issue. NKO ZAO NRD is the depositary of the issue.

Mostotrest CFO Oleg Tanana comments on the transaction: «An effective strategy and the ability to select the right transaction window (at the peak of the local debt market amid a rebound in oil prices) enabled the Company to make the most of market demand and create a new yield benchmark for issuers in the road construction sector. Within just a month following the debut transaction we have managed to place the second issue with a longer maturity and a lower yield».


Mostotrest is a major, diversified infrastructure construction company, with an established presence in all core and related market segments, and a participant in Russia’s first public-private partnership projects. According to EMBS Group, an independent industry consultancy, in 2015 Mostotrest held a 13.9% share of the total Russian transport infrastructure construction market.

Mostotrest’s core competences include construction and reconstruction of bridges, roads and other transport infrastructure facilities; provision of road maintenance, repair and operating services. In 2012, Mostotrest also entered a new segment: management of road concessions.

The company was established in 1930 as a developer of complex and oversized bridges.

Mostotrest is currently participating in the implementation of a number of complex transport infrastructure development projects, such as construction of the Section 4 (km 208 km 258) and Section 6 (km 334 – km 543) of the M-11“Moscow St Petersburg” Toll Highway, construction and reconstruction of the M-4 “Don”, M-9 “Baltic” and M-11 “Narva” highways, construction of Businovskaya Interchange in Moscow, Bor Bridge in Nizhny Novgorod and Voroshilovsky Bridge in Rostov-on-Don.

Mostotrest Ownership Structure:

· 94.2%: OJSC TFK-Finance;

· 5.8%: free float.

For more detailed Company information, please visit