Chicago, May 28 – X5 Retail Group NV (Ba1/BB/BB+) said LLC X5 Finance placed RUB 10 billion 5¾% 001P-11 series bonds, according to a press release.
The bonds have a 2.5-year put option.
Proceeds will be used to finance ongoing expenses, including debt refinancing and to improve the structure of its debt portfolio.
The offering was arranged by BCS Global Markets, Gazprombank, Credit Bank of Moscow, Raiffeisenbank, Russian Agricultural Bank, Region and Sovcombank, with Raiffeisenbank acting as the placement agent.
“We are pleased to note a high level of market demand in this issue. This time we managed to achieve a record low coupon rate for X5, compared with our past bond offerings, as well as the lowest coupon rate in the history of the entire Russian retail sector,” X5 chief financial officer Svetlana Demyashkevich said.
An offering in September 2019 priced with a 7.4% coupon and a previous issue in April 2019 priced with an 8.45% annual rate.
X5 is a Russian food retailer based in Moscow.
| Issuer: | LLC X5 Finance
|
| Issue: | Bonds, 001P-11 series
|
| Amount: | RUB 10 billion
|
| Arrangers: | BCS Global Markets, Gazprombank, Credit Bank of Moscow, Raiffeisenbank (placement agent), Russian Agricultural Bank, Region and Sovcombank
|
| Coupon: | 5¾%
|
| Put option: | After 2.5 years
|
| Announcement date: | May 28
|
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