On 12 May 2021, Sistema PJSFC made a bond placement worth 10 billion roubles on MOEX, with BCS Global Markets acting as an Arranger.
As part of bookbuilding, the final coupon rate was set at 8.20% per annum (yield to put at 8.37% per annum), at the bottom of the initial guidance range. The issue has a 10-year maturity and a put option in five years. Rated as ’ruAA-’ by Expert RА, the issue is eligible to be used as investment with pension savings and insurance reserves.
Sistema PJSFC (‘BB’ from S&P, ‘BB-‘ from Fitch, as well as ‘ruAA-‘ from Expert RА) is a major Russian corporation, owning and managing a large portfolio of companies. Currently, it has a controlling stake in MTS, Segezha Group, Medsi, STEPPE Agroholding, BPGC, etc.
Thanks to a broad creditor base, high quality of corporate governance and financial disclosure, Sistema has regularly raised capital in the Russian debt capital market.