The initial coupon rate of 5.70%-5.80% per annum was reduced as part of bookbuilding to 5.65% per annum, setting the yield to maturity at 5.73% per annum. There is a call provision in 36 months. The issue is eligible to join the Bank of Russia’s Lombard List as well as be used as investment with pension savings and insurance reserves.
X5 Retail Group (MCX&LSE: FIVE) is one of Russia’s major food retailers managing a number of brands including convenience stores Pyaterochka, supermarkets Perekryostok and hypermarkets Karusel.
The company has international ratings from the world’s leading agencies, including BB+ from Fitch, Bа1 from Moody’s, BB from S&P, as well as ruAA+ from Expert RА.
A message from management of BCS Global Markets
The continuously evolving nature of the global coronavirus situation has meant we at BCS Global Markets (BCS) are taking all necessary steps to keep business disruption to an absolute minimum.
Effective from today (Wednesday 18th March) employees from all divisions of the business based in our Russia, UK, USA and Cyprus offices who can work from home without creating any even minor possible risk for business continuity of the Group will be working remotely. It is very much business as usual at BCS. Our employees are equipped with secure access to our systems and will follow their normal working hours, keeping in regular contact with their colleagues and clients.
Despite ongoing disruption caused by COVID-19, we want to also assure you that following a sustained period of positive performance, our capital and liquidity position remains very strong. The business is well-placed to meet any subsequent financial challenges and will continue to go above and beyond for our clients.