JSC Sovcomflot (SCF) expects returns at around 5.5% on the seven-year debut Eurobonds. According to a source close to the deal, quoted by RBC with reference to Reuters, «investors are oriented to yield nearly to the sovereign bonds, plus a bonus." Bond issue is reported to be indicative. Applications book is scheduled to be closed on Oct. 21, 2010.
On October 12, JSC Sovcomflot started a road-show of eurobonds issue denominated in USD. Lead managers are the Deutsche bank, JPMorgan and VTB Capital.
On October 12, JSC Sovcomflot started a road-show of eurobonds issue denominated in USD. Lead managers are the Deutsche bank, JPMorgan and VTB Capital.
JSC Sovcomflot (Modern Commercial Fleet) is Russia's largest shipping company, one of the world's leading energy carriers. SCF is among the five global top tanker companies. Sovcomflot’s fleet comprises of 146 ships of total deadweight of 10,93 million tons. The company’s shipbuilding program includes 9 ships of nearly 690,000 DWT. Currently, Sovcomflot’ tanker fleet age is 6,4 years, one of the most modern fleets in the world. Net income of Sovcomflot (IFRS) in H1, 2010 shrank 5% year-over-year was $111.2m. Revenue for the period totaled $ 678.6m (+10.9%).