Russian IT infrastructure provider Selectel plans to issue two bond tranches worth 5 billion rubles, the company said on Wednesday.
The first bond is a floating rate note with a coupon tied to the central bank's rate plus a premium of up to 2.25%. The second bond will have a fixed coupon rate not exceeding 16.75% annually.
Selectel plans to amortize 40% of the face value after two years, with the remaining 60% due upon maturity in 3.5 years. The book-building process is scheduled for October 6.
Proceeds from the bonds will support the company's investment program.
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