On 27 November 2017 senior management of State Transport Leasing Company held a series of investor meetings with major London-based institutional investors to discuss the Company’s performance and financial results in 2017. The meetings were held within the annual Investor Day organized by Renaissance Capital (STLC’s exclusive rating and investor relations advisor), J.P.Morgan and Societe Generale.
STLC’s sole shareholder – the Ministry of Transport of the Russian Federation – participated in the meetings represented by Maxim Sokolov, the Minister of Transport and Victor Olersky, Deputy Minister of Transport. The shareholder has been traditionally supporting STLC in its communications with investor community, participating in the investor meetings, including two roadshows in connection with Eurobond issues as well as the first ever Investor Day in the Company’s history held in November 2016.
“Attracting of non-budget funding in the transportation industry is a crucial means of development of important ambitious projects in our country. The successful Eurobond placements of STLC can be considered as an obvious example of the Russian transportation sector’s appeal to investors in global capital markets,” stated the Minister of Transport of the Russian Federation Maxim Sokolov.
“STLC is a relatively large issuer and remains so far the only Russian leasing company raising funds through Eurobond issuances. We do our best to develop our interaction with major institutional investors implementing the best market practices, and being a responsible issuer we understand the importance of transparency in our communications with investor community. We commenced the practice of holding the Company’s Investor Days last year and plan to continue it in the future. Such meetings strengthen STLC’s image in global capital markets and help us receive high-quality investor feedback and be alert to market sentiment while planning our future public offerings,” stressed STLC’s CEO Sergey Khramagin.
Currently STLC has two outstanding Eurobond issues for a total nominal value of USD 1 billion. STLC’s debut USD 500 million Eurobond issue due 2021 was placed in July 2016 at 5.95% p.a. In May 2017 the second Eurobond issue for USD 500 million was placed with the tenor of 7 years and the coupon rate of 5.125% p.a.
STLC is rated ‘BB-’ (outlook “positive”) by S&P Global Ratings, ‘BB’ (outlook “stable”) by Fitch Ratings and ‘Ba2’ (outlook “stable”) by Moody’s Investors Service.