The initial, pre-marketing coupon rate of 5.75-5.85% per annum was fixed as part of bookbuilding at 5.85% per annum, setting the yield to maturity at 6.00% per annum. Amortization will begin from Year 2, with maturity set at 14 years while expected duration is estimated at 1.8 years.
SFO MOS MSP 5 is a special purpose financial vehicle set up to issue bonds.
The placement was recognized as a structured financing instrument and assigned the ruAAA.sf credit rating by the Russian rating agency Expert RA.
АО MSP Bank was set up in 1999 under Federal Law No. 36 FZ ‘1999 Federal Budget’ and under the Russian Government’s Executive Order No. 391-R dated 10 March 1999. 100% of the shares of AO MSP Bank belong to AO MSP Corporation, established under Presidential Decree No. 287 ‘On Measures to Further Develop SMEs’ dated 5 June 2015.
The Bank has an international credit rating ‘Ba2’ from Moody’s as well as the national ratings by AKRA, A+(RU), and Expert RA, ‘ruA+’.
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.