Media Room
22 Sep 2021
BCS Global Markets Arranges Bond Issue by Leader-Invest (Etalon Group PLC)

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.