The bookrunner of the issue was BCS Global Markets.The marketing range of the placement rate was 14-15% per annum. The final coupon rate was set at 14% per annum. The tenor is 2 years. Quarterly coupon payments and an amortization system of redemption are envisaged for the issue: 25% of the par value of the bonds will be repaid on the end date of coupon period 5-7. This is the debut issue of Limited Liability Company FES-Agro bonds. FES-Agro has a ruBB+ (stable) rating assigned by RAEX (Expert RA).
The bonds of the company aroused a high interest of a wide range of investors. 71 transactions were entered into during the placement.
Limited Liability Company FES-Agro is one of the largest distributors of seeds, crop protection agents and microfertilizers. The company was established more than 20 years ago (in 1996), and at present, it has 21 branch offices, its sales volume is more than RUB 5 bn, and it has more than 1750 active customers in 24 Russian regions (in the South, the Volga region and the Central Black Earth economic region). The company works with a large portfolio of products of well-known global manufacturers (Syngenta, Bayer, DuPont Pioneer, Monsanto, BASF) and has direct distribution contracts with beneficial procurement terms.
The company also provides a range of services for consultative support of use of its products as well as implementation of cutting-edge technological solutions, which helps buyers to achieve high performance results and, consequently, ensures a high stability level and growth of the client base.