MOEX added AO Business Nedvizhimost debut bonds worth 4 billion roubles to its list of fixed income securities, with BCS Global Markets acting as the lead manager. The initial coupon rate of 7.80-8.00% per annum was set as part of bookbuilding at 7.90% per annum, putting the yield to maturity at 8.14% per annum.
AO Business Nedvizhimost owns one of the largest portfolios (79 sites with a total size of 400,000 sq m) of rentable real estate in Moscow and a portfolio of low-rise and countryside properties (around 50,000 sq m) as well as land plots (more than 90 hectares) in Moscow’s district of Serebryany Bor and in the Moscow Region. The total asset value is 40+ billion roubles. The company is a subsidiary of PAO AFK Sistema.
The company has a rating of ‘ruA-‘ from the Russian rating agency Expert RА.