Russian food retailer X5 Retail Group has completed a rouble-denominated bond offering of RUB 10 billion (€130 million) issued by LLC X5 Finance.
The coupon rate for the bonds, which have a 3-year put option, was set at 5.65% p.a.
The proceeds from the offering will be used to finance the retailer’s current expenses, including debt refinancing to improve the structure of its debt portfolio, the company added.
'Improve On Previous Benchmark'
Chief financial officer of the company, Svetlana Demyashkevich, commented, “We managed to improve on our previous benchmark for the coupon rate and put option terms, which were achieved during our last placement in May.
“We thank our investors and the arrangers for participating in the issue."
The offering was arranged by BCS Global Markets, Gazprombank, Credit Bank of Moscow, Raiffeisenbank, Sberbank CIB and Sovcombank, with Raiffeisenbank acting as the placement agent.
X5 Retail Group operates the Pyaterochka, Perekrestok and Karusel chains.