National Reserve Bank has postponed the placement of 5Y secured Eurobonds to the amount of $160 million convertible to Aeroflot shares, RusBonds reports. It has been declared by the source from financial market.

The reason of deal slippage and period of placement renewal are unknown.

The issue’s pricing should have taken place on Wednesday, April 20th. The quarter coupon rate may have been set at 4,25-5% per annum. The put option by nominal is stipulated by the terms of issue 3 years after the placement.

The possibility of placement capacity increase by $50 million has existed and the corresponding decision may have been made at the day of pricing.

The issuer of Eurobonds is NRB Finance S.A. (Luxemburg).

The securities may be exchanged on Aeroflot equities, owned by NRB. The investors may use the right of securities exchange from the 41st day after the placement until the 10th day before the redemption of securities.

The range of reward for exchanging securities on Aeroflot’s shares is 25-30% from the price of shares, which is being calculated as weighted average equities’ price at MICEX from the date of deal’s commencement date until the date of pricing.

The joint bookrunners are Sberbank RF and Merrill Lynch.