Russian housebuilder PIK Group postpones bond sale
 

Russian housebuilder PIK Group postpones bond sale
(Adds company's comment, context)

MOSCOW, April 17 (Reuters) - Russia's biggest housebuilder PIK Group said on Tuesday it had postponed indefinitely the sale of 14 billion roubles ($227.66 million) of domestic bonds.

The company, which had planned to place the bonds on April 18, said the postponement was due to the market volatility.

"PIK has decided to again review and adjust the placement's parameters in the context of the current market situation," a spokeswoman said.

Russian assets have tumbled over the last week after the United States imposed new sanctions on Russia, clouding prospects for Russian companies tapping equity markets.

Russian meat producer Cherkizovo postponed a board meeting scheduled for Tuesday to approve a new share issue, days after Russian IT services company IBS said it was putting its initial public offering on hold.

Russia also cancelled a regular weekly auction of OFZ Treasury bonds last week, citing unfavourable market conditions.

($1 = 61.4958 roubles) (Reporting by Maria Kiselyova, editing by Louise Heavens and Jane Merriman)

2018-04-17 15:09:11


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