On 12 May 2021, Sistema PJSFC made a bond placement worth 10 billion roubles on MOEX, with BCS Global Markets acting as an Arranger.
As part of bookbuilding, the final coupon rate was set at 8.20% per annum (yield to put at 8.37% per annum), at the bottom of the initial guidance range. The issue has a 10-year maturity and a put option in five years. Rated as ’ruAA-’ by Expert RА, the issue is eligible to be used as investment with pension savings and insurance reserves.
Sistema PJSFC (‘BB’ from S&P, ‘BB-‘ from Fitch, as well as ‘ruAA-‘ from Expert RА) is a major Russian corporation, owning and managing a large portfolio of companies. Currently, it has a controlling stake in MTS, Segezha Group, Medsi, STEPPE Agroholding, BPGC, etc.
Thanks to a broad creditor base, high quality of corporate governance and financial disclosure, Sistema has regularly raised capital in the Russian debt capital market.
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.