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Vtb Capital News

07 Oct 2020

Sovcomflot Shares Drop Below IPO Price Tag in Moscow Debut

(Photo: Sovcomflot)

Sovcomflot's shares fell below their offer price in their market debut in Moscow on Wednesday after the initial public offering (IPO) of Russia's biggest shipping company was priced at the lower end of its range.Sovcomflot's IPO, the first share offering by a Russian state company since 2013, will allow the government to reduce its stake to 82.8% following the sale of new shares worth about $550 million.The deal was priced at 105 roubles ($1.34) per share, at the lower end of the initial guidance of between 105 roubles and 117 roubles per share…

06 Oct 2020

Sovcomflot IPO Expected to Price at Low End of Range

(Photo: Sovcomflot)

Russian shipping company Sovcomflot is guiding investors to expect its initial public offering (IPO) to price at the low end of the marketing range, two bookrunners organizing the transaction said on Tuesday.The first big stock market float by a Russian company in a couple of years comes as wider investor sentiment towards Moscow has turned negative after the poisoning of Kremlin critic Alexei Navalny, protests in Belarus and renewed clashes in Nagorno-Karabakh.Russian assets…

28 Sep 2020

Sovcomflot to Sell up to 17% Stake in Moscow IPO

(Photo: Sovcomflot)

Russia's top shipping company Sovcomflot plans to sell a 15.5%-17% stake in new shares and raise around 42.25 billion roubles ($534 million) in an initial public offering (IPO) on the Moscow Exchange, the company and analysts said on Monday.Sovcomflot's IPO comes at a difficult time for the Russian currency as rising coronavirus cases worldwide threaten an oil price recovery and reduce risk appetite among investors.The rouble was trading close to a 6-month low against the U.S.

15 Sep 2020

Sovcomflot Targets at Least $500 Million in Moscow IPO

(Photo: Sovcomflot)

Sovcomflot plans to raise at least $500 million in an initial public offering (IPO) on the Moscow Exchange, Russia’s top shipping company said on Tuesday, in a deal that could value it at roughly $10 billion according to sources.The move by the state-controlled firm comes as Russian airline Aeroflot also plans to raise capital in a secondary public offering (SPO).For Aeroflot, the cash is needed to fight the economic fallout from the COVID-19 pandemic.Sovcomflot (SCF) which is raising money to spend on new projects and reduce debt aims to list in early October…

18 May 2017

Russia Wants to Sell Sovcomflot to Small-stake Investors

Photo: Sovcomflot

Russia plans to sell part of state shipping firm Sovcomflot next month, hoping to draw in a wide range of small-stake investors rather than a strategic buyer who could threaten Moscow's control of the group, banking and industry sources say. The current era of low tanker market prices is far from the ideal time for Sovcomflot to raise revenue with a share offer, as freight rates were at their highs in 2015. Sovcomflot operates the world's second largest fleet of oil tankers. But…

09 Sep 2016

Sovcomflot $ 1.26 bln Debt Financing Complete

SCF Group completed a series of financing transactions in the total amount of USD 1.26 billion. The deals include USD 750 million of unsecured public debt and USD 512 million of bank loans raised for purposes of funding the fleet renewal and expansion programme and for the refinancing of maturing debt. The latest in this series were new long-term credit facilities for a total amount of USD 252 million signed in August 2016, with a number of international banks including: Citibank; DVB Bank; ING Bank; Nordea Bank and Unicredit Bank. The funds raised are being used to finance the acquisition of nine ice-class tankers and two multifunctional icebreaking supply vessels as well as for refinancing of the Group’s existing bank debt.

09 Jun 2016

Sovcomflot Revises Pricing on USD 7-year Bond

Russian shipping company Sovcomflot has cut the yield on its seven-year U.S. dollar bond to 5.375 percent - 5.5 percent, according to a lead.   The notes will price within that range. The latest level compares with guidance of 5.625 percent area and initial price thoughts of 5.75 percent area.   The benchmark-sized notes are expected to price later today. Citigroup, ING, JP Morgan, Sberbank and VTB Capital are the lead managers.   Sovcomflot is rated Ba1/BB+/BB.     (Reporting by Sudip Roy)

29 Nov 2014

Russian Assets Sink on Oil price Collapse

Russia's rouble and shares hit new lows on Friday as oil prices collapsed after OPEC decided to leave its output unchanged despite heavy oversupply. At 1000 GMT, the rouble was around 2.2 percent below the previous close at 49.72 roubles per dollar, and 1.7 percent weaker against the euro at 61.94 roubles . It earlier hit an all-time low of 49.90 to the dollar. Traders said market moves were exacerbated by thin volumes, which mean that even small purchases of foreign currency were able to move the market. Brent crude was last trading at around $72 a barrel after falling as much as $6.50 a barrel a day earlier, when the OPEC oil producer group made known its decision not to cut its output targets.

06 Mar 2014

Brent eases below $108 on Ukraine diplomacy

EU leaders set to warn, not sanction Russia; U.S. crude stocks rise more than expected. U.S. jobs data, services data point to lower oil demand. Brent crude reversed gains made earlier on Thursday after Crimea's parliament voted unanimously to join Russia, even as the West and Russia engaged in high-stakes diplomacy to cool the crisis in Ukraine. The announcement sets a referendum on the future of Crimea in 10 days, raising the stakes in the most serious East-West confrontation since the end of the Cold War. The North Sea benchmark has fallen $4 since reaching two-month highs on Monday, when worries of an armed conflict between Ukraine and Russia peaked.

19 Oct 2010

Russian Vets Attend Opening of Russian Masts on HMS Belfast

Tuesday 19 October 2010 will become historically significant and memorable day for Russia and the United Kingdom. The grand opening of new Russian masts on the legendary HMS Belfast will take place in London. The restoration project of masts began in April 2009 at Severnaya Verf shipyard in St. Petersburg. Russian veterans of the Arctic convoys from Arkhangelsk, Yuri Kopytov and Georgi Evtukov, with support from Petropavlovsk Group and VTB Capital, will arrive in London to attend the official ceremony. Masts restoration project was supported by Russian companies United Industrial Corporation, Severstal and Sovkomflot, in recognition of the heroism of the Arctic Convoys 1941-1945.