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.