On 3 June 2020, MOEX added Retail Bel Finance bonds worth 5 billion roubles with a five-year maturity to its list of fixed income securities, with BCS Global Markets as the bookrunner. The initial coupon rate of 9.30%-9.50% per annum was reduced as part of bookbuilding to 9.45% per annum, setting the yield to maturity at 9.79% per annum. Russia’s rating agency Expert RА assigned a ‘ruA-’ rating according to the Russian credit ratings scale, with a stable outlook.

Head of DCM Department, BCS Global Markets Aleksey Kupriyanov comments:
The new placement by Evrotorg in the Russian debt market has been again welcomed by investors. Retail investors have been extremely active, buying up half of the issue. It is an obvious choice: it is a reliable borrower with a large liquid issue and a coupon higher than 9%.
Retail Bel Finance is an issuer that was set up to raise funds for ООО Evrotorg on the Russian territory and under Russian law. The company has tapped the Russian debt market for a second year running, increasing the total placement to 15 billion roubles.
Evrotorg is the largest private company in the Republic of Belarus, and an absolute leader in food retail, more than five times ahead of its closest competitor. The company runs a network of brands – convenience stores, supermarkets, and hypermarkets. The Group also operates a major online food business, the biggest in terms of the number of orders in Eastern Europe.
The company has international ratings from the world’s leading agencies, including B from Fitch, B- from S&P, as well as byA- from Expert RА.