28 November 2017
Renaissance Capital supports annual STLC London Investor Day

Investor Day, attended by the Minister of Transport of the Russian Federation, focuses on STLC’s 2017 performance and results

London and Moscow, 28 November 2017 - Renaissance Capital, a leading emerging and frontier markets investment bank, has led the organisation of a London Investor Day for the State Transport Leasing Company (STLC). Renaissance Capital has been acting as STLC’s exclusive credit ratings and investor relations advisor since 2016, and organised the Investor Day in partnership with J.P. Morgan and Societe Generale, following a previous successful event held by the company last year.

Within the event, STLC, whose sole shareholder is the Ministry of Transport of the Russian Federation, held a series of meetings with major international investors to discuss its 2017 activities and financial performance. The Investor Day was attended by Maxim Sokolov, Minister of Transport of the Russian Federation, and Viktor Olersky, Deputy Minister of Transport.

In July 2016, Renaissance Capital acted as sole credit ratings adviser and joint lead manager and bookrunner for STLC’s debut $500mn eurobond (due in 2021), for which STLC held an investor roadshow in Geneva, Zurich, London and Moscow. The order book of the 5.95% benchmark placement was over five times oversubscribed. The eurobond later won the ‘Best Debut International Bond Placement in 2016’ at the 2016 Cbonds Awards.

In May 2017, STLC issued a seven-year $500mn eurobond, with an annual coupon of 5.25%.

STLC has long-term international credit ratings of BB, with a Stable outlook from Fitch Ratings, Ba2 with a Stable outlook from Moody’s and BB- with a Positive outlook from S&P Global Ratings.