On December 7, 2021 ABZ-1 JSC made a new bond placement worth 2 billion roubles on MOEX, with BCS Global Markets acting as the Arranger.
The first coupon rate target during the marketing process ranged between 12.25% and 13.00% per annum. During book building, the final coupon rate was set at 12.75% per annum, with the effective yield to maturity at 13.37% per annum. The bond is made on behalf of PSF Baltic Project JSC and ABZ-Dorstroy JSC. With a maturity of 3 years, the issue has been assigned a credit rating of ‘ruBBB’ from the Russian credit agency Expert RA.
Baltic Project PSF JSC (‘ruBBB’ by Expert RA) is the parent company of ABZ-1 Group, consolidating its main operating subsidiaries, including ABZ-1 JSC, ABZ-Dorstroy JSC, DSK ABZ-Dorstroy LLC and Ecodor JSC. The group is a major regional player in road and infrastructure construction in the North-Western Federal District, and is also one of the largest producers and suppliers of asphalt-concrete mixes, with a capacity of up to 1.5 million tonnes per year, which accounts for an average of about 25% of total revenue.
ABZ-1 JSC is one of the largest manufacturers of high-quality asphalt mixtures in Russia and the leader in Russia’s North-West. The company owns two modern production centres, five asphalt-mixing mobile plants, producing 15,000 tonnes of products and more than 1,000,000 tonnes of asphalt per year.
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.