Bonds are commonly referred to as fixed-income securities and are one of the three main asset classes, along with stocks and cash equivalents.
The indebted entity (issuer) issues a bond that states the interest rate (coupon) that will be paid and when the loaned funds (bond principal) are to be returned (maturity date). Interest on bonds is usually paid every six months (semi-annually).
Two features of a bond - credit quality and duration - are the principal determinants of a bond's interest rate. Corporate and municipals bonds maturities range from a three to 10-year range.
| Issue | Outstanding | Amount Issued | Coupon | Term | Issue date | Maturity date | Coupon payment days |
|---|---|---|---|---|---|---|---|
| Eurobond 2021 | $500 000 000 | $500 000 000 | 3,85% | 4,5 years | 27-Feb-17 | 27-Aug-21 | 27 feb / 27 aug |
| Eurobond 2022 | $634 051 000 | $750 000 000 | 5,90% | 10 years | 17-Oct-12 | 17-Oct-22 | 17 apr / 17 oct |
| Eurobond 2024 | $800 000 000 | $800 000 000 | 3,15% | 5 years | 16-Sep-19 | 16-Sep-24 | 16 Sep / 16 Mar |
| Documentation | Prospectus |
|
Issuer |
Steel Capital SA (the ‘‘Issuer’’) |
|
Company (as Borrower) |
PAO Severstal (the ‘‘Borrower’’ or the ‘‘Company’’) with its registered office and business headquarters at Ul. Mira 30, 162600 Cherepovets, Russia |
|
Offering |
US$500,000,000 3.85 percent Loan Participation Notes due 2021 |
|
Trustee |
Citibank, N.A., London Branch |
|
Principal Paying Agent and Transfer Agent |
Citibank, N.A., London Branch |
|
Registrar |
Citigroup Global Markets Deutschland AG |
|
New York Paying Agent and Transfer Agent |
Citibank, N.A., New York branch |
|
Issue Price of Notes |
100 percent of the principal amount of Notes |
|
Settlement Date |
27 February 2017 |
|
Maturity Date |
27 Августа 2021 |
|
Interest |
3.85 % per annum |
|
Security Codes |
Regulation S ISIN: XS1567051443 Regulation S Common Code: 156705144 Rule 144A ISIN: US85805RAD08 Rule 144A Common Сode: 156705250
Rule 144A CUSIP: 85805RAD0 |
| Documentation | Prospectus |
|
Issuer |
Steel Capital SA (the ‘‘Issuer’’) |
|
Company (as Borrower) |
PAO Severstal (the ‘‘Borrower’’ or the ‘‘Company’’) with its registered office and business headquarters at Ul. Mira 30, 162600 Cherepovets, Russia |
|
Offering |
US$750,000,000 5.9 percent Loan Participation Notes due 2022 |
|
Trustee |
Citibank, N.A., London Branch |
|
Principal Paying Agent and Transfer Agent |
Citibank, N.A., London Branch |
|
Registrar |
Citigroup Global Markets Deutschland AG |
|
New York Paying Agent and Transfer Agent |
Citibank, N.A., New York branch |
|
Issue Price of Notes |
100 percent of the principal amount of Notes |
|
Settlement Date |
17 October 2012 |
|
Maturity Date |
17 October 2022 |
|
Interest |
5.90% per annum |
|
Security Codes |
Regulation S ISIN: XS0551315384 Regulation S Common Code: 055131538 Rule 144A ISIN: US858057AC66 Rule 144A Common Сode: 055206767
Rule 144A CUSIP: 858057AC6 |
| Documentation | Prospectus |
|
Issuer |
Steel Capital SA (the ‘‘Issuer’’) |
|
Company (as Borrower) |
PAO Severstal (the ‘‘Borrower’’ or the ‘‘Company’’) with its registered office and business headquarters at Ul. Mira 30, 162600 Cherepovets, Russia |
|
Offering |
US$750,000,000 5.9 percent Loan Participation Notes due 2022 |
|
Trustee |
Citibank, N.A., London Branch |
|
Principal Paying Agent and Transfer Agent |
Citibank, N.A., London Branch |
|
Registrar |
Citigroup Global Markets Deutschland AG |
|
New York Paying Agent and Transfer Agent |
Citibank, N.A., New York branch |
|
Issue Price of Notes |
100 percent of the principal amount of Notes |
|
Settlement Date |
17 October 2012 |
|
Maturity Date |
17 October 2022 |
|
Interest |
5.90% per annum |
|
Security Codes |
Regulation S ISIN: XS2046736919 Regulation S Common Code:204673691 CUSIP number: 85805RAE8 Rule 144A ISIN: US85805RAE80
Rule 144A Common Code: 204871531 |
| Issue | Outstanding | Amount Issued | Coupon | Term | Issue date | Maturity date | Next put date | Coupon payments |
|---|---|---|---|---|---|---|---|---|
| Local bonds (BO-06) | 10 000 000 000 RUB | 10 000 000 000 RUB | 8,65% | 5 years | 9-Apr-19 | 27-Mar-29 | 2-Apr-24 | each 182 days |
| Local bonds (BO-07) | 15 000 000 000 RUB | 15 000 000 000 RUB | 8,65% | 7 years | 5-Apr-19 | 23-Mar-29 | 27-Mar-26 | each 182 days |
| Documentation |
Prospectus Prospectus Amendment Decision Decision Amendment |
| Identification numbers | 4B02-06-00143-A / RU000A1008W7 |
| Date of placement | 09 April 2019 |
| Issue size | 15 billion roubles |
| Amount issued | 10 billion roubles |
| Notional of each Exchange Bond | 1 000 roubles |
| Maturity date | 23 March 2029 |
| Next Put date | 02 April 2024 |
| Coupon period | 182 days |
| Coupon rate | 8,65% per annum |
| Trading | Moscow Exchange, the second level of listing |
| Payment agent | NSD |
| Lead arrangers | Rosbank, Sberbank CIB, VTB Capital |
| Documentation |
Prospectus Prospectus Amendment Decision Decision Amendment |
| Identification numbers | 4B02-07-00143-A / RU000A1008L0 |
| Date of placement | 05 April 2019 |
| Issue size | 15 billion roubles |
| Amount issued | 15 billion roubles |
| Notional of each Exchange Bond | 1 000 roubles |
| Maturity date | 23 March 2029 |
| Next Put date | 27 March 2026 |
| Coupon period | 182 days |
| Coupon rate | 8,65% per annum |
| Trading | Moscow Exchange, the second level of listing |
| Payment agent | NSD |
| Lead arrangers | Rosbank, Sberbank CIB, VTB Capital |
| Issue | Outstanding | Amount Issued |
|---|---|---|
| Local bonds (BO-08) | ₽0 | 10 000 000 000 RUB |
| Local bonds (BO-09) | ₽0 | 10 000 000 000 RUB |
| Documentation |
Prospectus Prospectus Amendment Decision Decision Amendment |
|
Identification numbers |
4B02-08-00143-A |
| Documentation | Prospectus Prospectus Amendment Decision Decision Amendment |
| Identification numbers | 4B02-09-00143-A |
| Issue | Amount Issued | Coupon | Term | Issue date | Maturity date | Coupon payment days |
|---|---|---|---|---|---|---|
| Eurobond 2013 | $1 250 000 000 | 9,75% | 5 years | 29-Jul-08 | 29-Jul-13 | 29 jan / 29 jul |
| Eurobond 2014 | $375 000 000 | 9,25% | 10 years | 19-Apr-04 | 19-Apr-14 | 19 oct / 19 apr |
| Eurobond 2018 (Columbus) | $525 000 000 | 10,25% | 8 years | 11-Feb-10 | 15-Feb-18 | 24 aug / 24 feb |
| Eurobond 2016 | $500 000 000 | 6,25% | 5 years | 26-Jul-11 | 26-Jul-16 | 26 jan / 26 jul |
| Eurobond 2017 | $1 000 000 000 | 6,70% | 7 years | 25-Oct-10 | 25-Oct-17 | 25 apr / 25 оct |
| Eurobond 2018 | $600 000 000 | 4,450% | 5 years | 19-Mar-13 | 19-Mar-18 | 19 sep / 19 mar |
| Convertible Bonds 2017 | $475 000 000 | 1,00% | 5 years | 24-Sep-12 | 24-Sep-17 | 24 mar / 24 sep |
| Convertible Bonds 2021 | $200 000 000 | 0,50% | 5 years | 29-Apr-16 | 29-Apr-21 | 29 apr / 29 oct |
| Convertible Bonds 2022 | $250 000 000 | 0,00% | 5 years | 16-Feb-17 | 16-Feb-22 | 16 feb / 16 aug |
| Local bonds (BO-01) | 15 000 000 000 RUB | 14,00% (1−4) 7,50% (5−6) | 3 years | 22-Sep-09 | 18-Sep-12 | each 182 days |
| Local bonds (BO-02) | 10 000 000 000 RUB | 9,75% | 3 years | 19-Feb-10 | 15-Feb-13 | each 182 days |
| Local bonds (BO-04) | 5 000 000 000 RUB | 9,75% | 3 years | 19-Feb-10 | 15-Feb-13 | each 182 days |
| Issuer | Steel Capital SA (the ‘‘Issuer’’) |
| Company (as Borrower) | OAO Severstal (the ‘‘Borrower’’ or the ‘‘Company’’) with its registered office and business headquarters at Ul. Mira 30, 162600 Cherepovets, Russia |
| Offering | US$1,250,000,000 9.75 percent Loan Participation Notes due 2013 |
| Outstanding amount | US$543,552,000 |
| Trustee | Citibank, N.A., London Branch |
| Principal Paying Agent and Transfer Agent | Citibank, N.A., London Branch |
| Registrar | Citigroup Global Markets Deutschland AG & Co. KGaA |
| New York Paying Agent and Transfer Agent | Citibank, N.A., New York branch |
| Issue Price of Notes | 100 percent of the principal amount of Notes |
| Settlement Date | 29 July 2008 |
| Maturity Date | 29 July 2013 |
| Interest | 9.75% per annum |
| Security Codes |
Regulation S ISIN: XS0376189857 Regulation S Common Code: 037618985 Rule 144A ISIN: US858057AA1 Rule 144A CUSIP: 858057AA0 PORTAL: P858057AA0 |
| Issuer | Steel Capital SA (the "Issuer") |
| Company (as Borrower) | Open Joint Stock Company ‘‘Severstal’’ (the ‘‘Borrower’’ or ‘‘Severstal’’) with its registered office and business headquarters at Ul. Mira 30, 162600 Cherepovets, Russia |
| Offering | U.S.$375,000,000 9.25% Loan Participation Notes due 2014 |
| Trustee | The Law Debenture Trust Corporation p.l.c. |
| Principal Paying Agent and Transfer Agent | Citibank, N.A., London Branch |
| Registrar | Citibank, N.A., London Branch |
| Paying Agent and Transfer Agent | Citibank, N.A. Agency & Trust |
| Luxembourg Paying Agent and Transfer Agent | Dexia Banque Internationale a`Luxembourg, socie´te´ anonyme |
| Issue Price of Notes | 100 percent of the principal amount of Notes. |
| Settlement Date | 19 April 2004 |
| Maturity Date | 19 April 2014 |
| Interest | 9.25% per annum |
| Security Codes | Applications have been made to admit the Notes to the Official List of the UK Listing Authority and to trading on the London Stock Exchange’s market for listed securities |
| Issuer | Severstal Columbus, LLC (the ‘‘Issuer’’) |
| Offering | US$525,000,000 10.25 percent First-Priority Senior Secured Notes due 2018 |
| Trustee and Collateral agent | The Bank of New York Mellon Trust Company, N.A. |
| Joint Book-Running Managers | Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. |
| Issue Price of Notes | 98.008 percent of the principal amount of Notes |
| Closing Date | 08 February 2010 |
| Maturity Date | 15 February 2018 |
| Interest | 10.25 % per annum |
| Security Codes |
Regulation S ISIN: USU81808AA21 Regulation S Common Code: U81808AA2 Rule 144A ISIN: US818149AA47 Rule 144A Common Сode: 81849 AA4 Rule 144A CUSIP: 818149 AA4 |
| Issuer | Steel Capital SA (the "Issuer") |
| Company (as Borrower) | Open Joint Stock Company ‘‘Severstal’’ (the ‘‘Borrower’’ or ‘‘Severstal’’) with its registered office and business headquarters at Ul. Mira 30, 162600 Cherepovets, Russia |
| Offering | U.S.$500,000,000 6.25 percent Loan Participation Notes due 2016 |
| Trustee | Citibank, N.A., London Branch |
| Principal Paying Agent and Transfer Agent | Citibank, N.A., London Branch |
| Registrar | Citigroup Global Markets Deutschland AG |
| New York Paying Agent and Transfer Agent | Citibank, N.A., New York branch |
| Issue Price of Notes | 100 percent of the principal amount of Notes |
| Settlement Date | 26 July 2011 |
| Maturity Date | 26 July 2016 |
| Interest | 6.25% per annum |
| Security Codes |
Regulation S ISIN: XS0648402583 Regulation S Common Code: 064840258 Rule 144A ISIN: US85805RAA68 Rule 144A Common Сode: 064987003 Rule 144A CUSIP: 85805RAA6 |
| Issuer | Steel Capital SA (the ‘‘Issuer’’) |
| Company (as Borrower) | OAO Severstal (the ‘‘Borrower’’ or the ‘‘Company’’) with its registered office and business headquarters at Ul. Mira 30, 162600 Cherepovets, Russia |
| Offering | US$1,000,000,000 6.70 percent Loan Participation Notes due 2017 |
| Trustee | Citibank, N.A., London Branch |
| Principal Paying Agent and Transfer Agent | Citibank, N.A., London Branch |
| Registrar | Citigroup Global Markets Deutschland AG |
| New York Paying Agent and Transfer Agent | Citibank, N.A., New York branch |
| Issue Price of Notes | 100 percent of the principal amount of Notes |
| Settlement Date | 25 October 2010 |
| Maturity Date | 25 October 2017 |
| Interest | 6.70 % per annum |
| Security Codes | Regulation S ISIN: XS0551315384 Regulation S Common Code: 055131538 Rule 144A ISIN: US858057AC66 Rule 144A Common Сode: 055206767 Rule 144A CUSIP: 858057AC6 |
| Issuer | Steel Capital SA (the "Issuer") |
| Company (as Borrower) | Open Joint Stock Company ‘‘Severstal’’ (the ‘‘Borrower’’ or ‘‘Severstal’’)with its registered office and business headquarters at Ul. Mira 30, 162600 Cherepovets, Russia |
| Offering | U.S.$600,000,000 4.45 percent Loan Participation Notes due 2018 |
| Trustee | Citibank, N.A., London Branch |
| Principal Paying Agent and Transfer Agent | Citibank, N.A., London Branch |
| Registrar | Citigroup Global Markets Deutschland AG |
| New York Paying Agent and Transfer Agent | Citibank, N.A., New York branch |
| Issue Price of Notes | 100 percent of the principal amount of Notes |
| Settlement Date | 19 March 2013 |
| Maturity Date | 19 March 2018 |
| Interest | 4.45% per annum |
| Security Codes | Regulation S ISIN: XS0899969702 |
| Regulation S Common Code: 089996970 | |
| Rule 144A ISIN: US85805RAC25 | |
| Rule 144A Common Сode: 089997291 | |
| Rule 144A CUSIP: 85805RAC2 |
| Issuer | Holdgrove Limited (the ‘‘Issuer’’) |
| Guarantor (as Borrower) | OAO Severstal (the ‘‘Borrower’’ or the ‘‘Company’’) with its registered office and business headquarters at Ul. Mira 30, 162600 Cherepovets, Russia |
| Offering | US$475,000,000 1.0% Senior Unsecured Guaranteed Convertible Bonds due 2017 |
| Trustee | Citibank, N.A., London Branch |
| Principal Paying Agent, Transfer Agent and Converision Agent | Citibank, N.A., London Branch |
| Registrar | Citigroup Global Markets Deutschland AG |
| Issue Price of Notes | 100 percent of the principal amount |
| Settlement Date | 24 September 2012 |
| Maturity Date | 24 September 2017 |
| Coupon | 1.00% per annum |
| Yield-to-Maturity | 2.00% per annum |
| Redemption Price at Maturity | 105.231% of the Principal Amount |
| Early Redemption at the Option of the Bondholder |
on 24 September 2015 |
| Early Redemption at the Option of the Issuer |
Starting from 15 October 2015 provided the value of the GDRs deliverable on conversion of the Bonds exceeds 140 per cent of the accreted principal amount of the Bonds on a specified period of time |
| Reference Price | USD 13.1580 |
| Conversion Premium | 45% |
| Initial Conversion Price | USD 19.08 per GDR |
| Selling Restrictions | Reg. S (Category 1). Not Rule 144A eligible |
| Security Codes |
ISIN XS0834475161 Common Code 83447516 |
| Documentation | Severstal-0.50-29apr2021-USD-Terms-and-Conditions |
| Issuer | Abigrove Limited (the ‘‘Issuer’’) |
| Guarantor (as Borrower) | РАО Severstal (the ‘‘Borrower’’ or the ‘‘Company’’) with its registered office and business headquarters at Ul. Mira 30, 162600 Cherepovets, Russia |
| Offering | US $200,000,000 0.5% Senior Unsecured Guaranteed Convertible Bonds due 2021 |
| Trustee | Citibank, N.A., London Branch |
| Principal Paying Agent, Transfer Agent and Converision Agent | Citibank, N.A., London Branch |
| Registrar | Citigroup Global Markets Deutschland AG |
| Issue Price of Notes | 100 percent of the principal amount |
| Settlement Date | 29 April 2016 |
| Maturity Date | 29 April 2021 |
| Coupon | 0.50% per annum |
| Yield-to-Maturity | 0.50% per annum |
| Redemption Price at Maturity | 100.00% of the Principal Amount |
| Early Redemption at the | on 29 April 2019 |
| Option of the Bondholder | |
| Early Redemption at the | Starting from 20 May 2019 provided the value of the GDRs deliverable on conversion of the Bonds exceeds 130 per cent of the accreted principal amount of the Bonds on a specified period of time |
| Option of the Issuer | |
| Reference Price | USD 11.7430 per GDR |
| Conversion Premium | 17,52% |
| Initial Conversion Price | USD 13.80 per GDR |
| Selling Restrictions | Reg. S (Category 1). Not Rule 144A eligible |
| Security Codes | ISIN XS1403868398 |
| Documentation | Severstal-0.00-16feb2022-USD-Terms-and-Conditions |
| Issuer | Abigrove Limited (the ‘‘Issuer’’) |
| Guarantor (as Borrower) | PAO Severstal (the ‘‘Borrower’’ or the ‘‘Company’’) with its registered office and business headquarters at Ul. Mira 30, 162600 Cherepovets, Russia |
| Offering | US $250,000,000 Zero-coupon Senior Unsecured Guaranteed Convertible Bonds due 2022 |
| Trustee | Citibank, N.A., London Branch |
| Principal Paying Agent, Transfer Agent and Converision Agent | Citibank, N.A., London Branch |
| Registrar | Citigroup Global Markets Deutschland AG |
| Issue Price of Notes | 100 percent of the principal amount |
| Settlement Date | 16 February 2017 |
| Maturity Date | 16 February 2022 |
| Coupon | 0.00% (zero-coupon) |
| Yield-to-Maturity | N/A |
| Redemption Price at Maturity | 100.00% of the Principal Amount |
| Early Redemption at the | on 16 February 2020 |
| Option of the Bondholder | |
| Early Redemption at the | Starting from 9 March 2020 provided the value of the GDRs deliverable on conversion of the Bonds exceeds 130 per cent of the accreted principal amount of the Bonds on a specified period of time |
| Option of the Issuer | |
| Reference Price | USD 15.09 per GDR |
| Conversion Premium | 35% |
| Initial Conversion Price | USD 20.33 per GDR |
| Selling Restrictions | Reg. S (Category 1). Not Rule 144A eligible |
| Security Codes | ISIN XS1566998297 |
| Identification numbers | 4B02-01-00143-A |
| Date of placement | September 22, 2009 |
| Issue | 15 billion roubles |
| Notional of each Exchange Bond | 1 000 roubles |
| Maturity date | September 18, 2012 |
| Put option | 2 years |
| Coupon period | 182 days |
| Coupon rate | 14,00% per annum (for 1 - 4 coupon periods), 7,50% per annum (for 5 - 6 coupon periods) |
| Trading | Moscow Interbank Currency Exchange (MICEX) |
| Payment agent | National Depositary Center |
| Lead arrangers | Raiffeisenbank and Citibank |
| Identification numbers | 4B02-02-00143-A |
| Date of placement | February 19, 2010 |
| Issue | 10 billion roubles |
| Notional of each Exchange Bond | 1 000 roubles |
| Maturity date | February 15, 2013 |
| Coupon period | 182 days |
| Coupon rate | 9,75 % per annum |
| Trading | Moscow Interbank Currency Exchange (MICEX) |
| Payment agent | National Depositary Center |
| Lead arrangers | Raiffeisenbank and Citibank |
| Identification numbers | 4B02-02-00143-A |
| Date of placement | February 19, 2010 |
| Issue | 10 billion roubles |
| Notional of each Exchange Bond | 1 000 roubles |
| Maturity date | February 15, 2013 |
| Coupon period | 182 days |
| Coupon rate | 9,75 % per annum |
| Trading | Moscow Interbank Currency Exchange (MICEX) |
| Payment agent | National Depositary Center |
| Lead arrangers | Raiffeisenbank and Citibank |