On 30 September 2020, MOEX added OOO PIK-Corporation bonds worth 7 billion roubles to its list of fixed income securities, with BCS Global Markets, again, acting as the lead manager for its regular customer. Funding raised as part of this cooperation over the past four years totals 57 billion roubles. The initial coupon rate of 7.50%-7.75% per annum was decreased as part of bookbuilding to 7.40% per annum, setting the yield to maturity at 7.61% per annum. Thanks to the high market demand, the initial placement was increased from 5 to 7 billion roubles. The issue is eligible to be used as investment with pension savings and insurance reserves.
PIK Group is Russia’s biggest developer, far ahead of its competitors in terms of construction volume, demonstrating a strong market position.
The company has an international rating of BB- from Fitch, and ruA from the Russian rating agency Expert RA.
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.