On July 21 2022, Binnopharm Group LLC placed a second bond issue worth 3 billion roubles on MOEX. The first coupon rate target did not exceed 10.74% per annum. During book building, the final coupon rate was set at 10.35% per annum, with the yield to put option at 10.76% per annum. The issue offers a put option after two years, with maturity of 15 years. It is classified as an eligible investment option for pension savings and insurance reserves, and is also rated 'ruA' by Russia’s credit agency Expert RA.
Binnopharm Group LLC (‘ruA’ by Expert RA) is a full-cycle pharmaceutical holding company operating a number of production sites in several Russian cities, with a portfolio featuring more than 450 drugs. It is present in all eight of the Russian federal districts. The holding ranks fourth among Russian pharma manufacturers, according to research firm Alpha RM. Based on its 1Q 2022 (LTM) data, Binnopharm Group LLC enjoyed a revenue of RUB 27bn, with OIBDA at RUB 8bn, OIBDA margin at 30%, and net debt / OIBDA of 1.5x.
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.