On 11 August 2021, MV FINANCE LLC placed a second bond issue worth 9 billion roubles on MOEX, with BCS Global Markets acting as the Arranger. During bookbuilding the final coupon rate was set at 8.10% per annum (the yield to maturity at 8.35% per annum). Concerted efforts by the Issuer and the Arrangers drove significant oversubscription (demand totalled 11.7 billion roubles), and the Issuer decided to increase the issue size from 5 to 9 billion roubles. With a maturity of 3 years and a ’А+(RU)’ rating by ACRА, the issue is classified as an eligible investment option for pension savings and insurance reserves.
MV FINANCE LLC is a special purpose vehicle set up by M.video PJSC for bond issuance.
M.video PJSC (‘A+(RU)’ by ACRA; ‘ruA+’ by Expert RA), or M.Video-Eldorado Group, is Russia’s biggest brick and mortar chain with a focus on consumer electronics and household appliances (a market share of 27% with 1,000+ stores across the country in 2020), as well as the biggest retail operator in the online segment (a market share of 33%). The Group has two brands, M.Video and Eldorado.
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.