On 21 July 2020, MOEX launched a debut placement of AO MaximaTelecom bonds worth 3 billion roubles to its list of fixed income securities, with BCS Global Markets as the lead manager.
The initial coupon rate of 10.75%-11.25% per annum was reduced as part of bookbuilding to 10.75% per annum, setting the yield to maturity at 11.04% per annum. There is a three-year call provision. The issue has been included in the MOEX Innovation and Investment Market section.
AO MaximaTelecom is a high-tech Russian company creating, maintaining and monetizing infrastructure for digital cities. It operates Europe’s largest Wi-Fi network, including networks in the underground rail systems in Moscow and St. Petersburg, Aeroexpress trains to Moscow airports, commuter trains in the Moscow Region, as well as in 15 key national airports.
Russia’s rating agency АКRА assigned a ‘BBB+(RU)’ credit rating.
“Currently, we are seeing growing interest to ruble-denominated bonds from individual investors, and the issue by MaximaTelecom is yet another example. More than half of the placement has been purchased by retail customers. We believe the trend will continue amid a monetary policy easing by the Bank of Russia,” said Aleksey Kupriyanov, Head of DCM at BCS Global Markets.
It has recently come to our attention that some individuals in Estonia with whom we have no business relationship have received phone calls from an individual purporting to be a BCS GM employee and soliciting BCS GM investment services and investments. Please note that BCS GM does not maintain an office in Estonia. We also take no action to promote our services in Estonia through phone calls or otherwise. If you ever have any questions of whether a person contacting you is actually an employee of BCS GM, please do not hesitate to contact us at +44 20 7065 2161 or email at firstname.lastname@example.org
We also strongly recommend that you report any such cases to the national police.