Russia’s State Transport Leasing Company (GTLK) has closed the orderbook of 10 billion ruble  bonds on the Moscow Stock Exchange.

Book orders for the seven-year bonds were opened with an initial reference point of the first coupon rates ranging 11.2-11.4% per annum. The final rate was fixed at 11% per annum, which corresponds to yield to put at 11.46%, says the Russian lessor.

GTLK says investors showed considerable interest in the issue. The aggregate demand for GTLK bonds exceeded 25 billion rubles. In total, the transaction received 51 applications from a wide range of institutional investors, as well as about 120 applications from individuals of about 300 million rubles.

Gazprombank is acting as the agent of the placement while Sovcombank joint organizers of the transaction.

Settlement will take place on 9 February 2017 on the Moscow Exchange.