On 22 December 2020, MOEX added GK Pioneer bonds worth 5 billion roubles to its lists of fixed income securities, with BCS Global Markets acting as the lead manager. The initial coupon rate of 9.50%-10.00% per annum was set as part of bookbuilding to 9.75% per annum, setting the yield to maturity at 10.11% per annum. Quarterly amortization payments are scheduled in the last 1.5 years. The maturity is four years. More than 9,500 deals were made, a signal of good liquidity in the secondary market.
GK Pioneer is a group of companies with a pipeline of urban multi-functional and housing real estate projects with subsequent management and utility supplier options. The company has unique experience in projects with different levels of complexity and is one of the leaders in the investment and construction segments of the Russian market with a portfolio of current and past projects of 3 million sq m.
GK Pioneer has a ‘BBB+(RU)’ credit rating from AKRA and a ‘ruBBB+’ rating from Expert RA. The issue has been assigned with a ‘ruBBB+’ rating by 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.