X5 Retail Group Places RUB 5bn In Corporate Bonds
Russia’s X5 Retail Group has announced the placement of RUB 5 billion (€67 million) in rouble-denominated series 001P-04 bonds issued by LLC X5 Finance.
The coupon rate on the bonds, which have a put option after 2.5 years, has been set at 8.5% per annum.
The company said that it plans to use the proceeds from the issue to finance its current operations, including loan refinancing to improve the structure of the loan portfolio.
"We are pleased with the results of this bond issue and would like to thank the arrangers and our investors,” commented X5 Retail Group CFO Svetlana Demyashkevich .
“X5 has reached the lowest coupon rate among all local market placements since the beginning of the year."
The offering was arranged by BCS Global Markets, BK REGION, Credit Bank of Moscow, Gazprombank, and Raiffeisenbank. The placement agent was Raiffeisenbank.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.