On 21 September 2021, Leader-Invest JSC placed a bond issue worth 10 billion roubles on MOEX, with BCS Global Markets acting as the Arranger.
During book building, the first coupon rate of 9.25-9.40% per annum proposed as part of the marketing process was reduced down to 9.10% per annum (the yield to maturity set at 9.42% per annum).
Concerted efforts by the Issuer and the Arrangers drove significant oversubscription, pushing the Issuer to increase the size of the offering from 8 to 10 billion roubles.
The bond issue has a maturity of 5 years, with amortization set for the final 2 years. It has a ‘ruA-’ rating by Russian agency Expert RA, and is classified as an eligible investment option for pension savings and insurance reserves.
Leader-Invest JSC (‘B-’ by S&P, ‘ruA-’ by Expert RA, upgraded on 17.05.2021) is a major real estate developer in Moscow by the land stock and the number of projects available for sale. The Company’s key focus is on compact high-rise construction and comprehensive development of comfort- and business-class assets. In 2019, Etalon Group PLC acquired 100 percent in Leader-Invest JSC. According to the company’s data, its largest projects are ZIL-YUG worth 64 billion roubles and Nagatino i-Land worth 23 billion roubles.
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.