On 5 April 2021, Brusnika. Construction and Development LLC made a bond placement worth six billion roubles on MOEX, with BCS Global Markets acting as the Arranger.
A long marketing campaign (including an online workshop be MOEX and Cbonds-Congress), coupled with professional collaboration between the Issuer and the Arrangers drove enough demand to ensure the full amount placement.
The first coupon rate target during the marketing process was 9.70-9.90% per annum. As part of bookbuilding, the final coupon was cut down to 9.60% per annum, setting the yield to maturity at 9.95% per annum. The issuе has a maturity of three years. It is assigned 'A-(RU)' bond rating by Russia’s rating agency ACRA.
Brusnika. Construction and Development LLC (АCRА – ‘A-(RU)’, Expert RА – ‘ruBBB+’) is a Russian developer headquartered in the city of Ekaterinburg with a focus on high-rise residential housing. Its portfolio includes modern budget segment apartment blocks in major cities in the Urals and Siberia, in Moscow and the Moscow Region. The disclosure schedule for escrow accounts is convenient for servicing project financing and corporate debt as well as bonds. The Company’s revenue has been steadily growing: 19.3 bn in 2019, 24.4 bn in 2020, and an expected 32.2 bn in 2021.
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.