On 28 July 2021, the bid book for exchange-traded bonds by PROMOMED DM LLC closed, marking a second successful placement by the Russian pharmaceutical firm after a debut offering in December 2020. Book building drove demand from a broad range of investors, with bids worth more than 2.4 billion roubles. The coupon was set at 9.45% per annum (versus the initial coupon rate target of 9.50-9.70% per annum), and the yield to maturity at 9.67% per annum. With a maturity of three years, the bond issue is eligible for investment with pension savings and insurance reserves, and has a covenants package.

The Co-Arrangers included Raiffeisenbank, BCS Global Markets, Otkritie Bank, ITI Capital, Sinara Investbank, Gazprombank, and UNIVER Capital. Cooperation between the Issuer and the Co-Arrangers set the stage for significant oversubscription, driving the issue size from five to 1 to 1.5 billion roubles. The placement is scheduled for 30 July 2021, with Raiffeisenbank acting as the Listing Agent.

PROMOMED DM LLC (‘ruBBB+’ by Expert RA) is one of the leaders of the domestic pharmaceutical industry, a reliable partner for the government in addressing critical challenges in medicine. In close cooperation with the medical community it develops, manufactures and promotes modern pharmaceuticals, focusing its efforts on increasing the efficacy and safety of therapies for the most dangerous diseases.

In the summer of 2020, in the midst of the COVID-19 pandemic, the Company was the first to complete clinical trials and register the innovative direct antiviral drug Areplivir (favipiravir).