MOEX added AO Business Nedvizhimost debut bonds worth 4 billion roubles to its list of fixed income securities, with BCS Global Markets acting as the lead manager. The initial coupon rate of 7.80-8.00% per annum was set as part of bookbuilding at 7.90% per annum, putting the yield to maturity at 8.14% per annum.
AO Business Nedvizhimost owns one of the largest portfolios (79 sites with a total size of 400,000 sq m) of rentable real estate in Moscow and a portfolio of low-rise and countryside properties (around 50,000 sq m) as well as land plots (more than 90 hectares) in Moscow’s district of Serebryany Bor and in the Moscow Region. The total asset value is 40+ billion roubles. The company is a subsidiary of PAO AFK Sistema.
The company has a rating of ‘ruA-‘ from the Russian rating agency Expert RА.
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.