Media Room
13 Apr 2021
YATEC JSC Bonds Placement

On 12 April 2021, YATEC JSC made a bond placement worth five billion roubles on MOEX, with BCS Global Markets acting as the Arranger.


A long marketing campaign (including an online workshop by MOEX), coupled with professional collaboration between the Issuer and the Arrangers drove enough demand to ensure the full amount placement.


The first coupon rate target during the marketing process was 8.90-9.20% per annum. As part of bookbuilding, the final coupon was set at 9.15% per annum, setting the yield to maturity at 9.36% per annum. The amortized bond issuе has a maturity of four years, with bi-annual payments in the last two years. It is assigned 'A (RU)' bond rating by Russia’s rating agency ACRA. 


YATEC JSC (‘A(RU)’ by АCRА) is the main and the oldest gas producing company in the Republic of Sakha (Yakutia) and the region’s only producer of motor fuels. The Company’s focus is on exploration, extraction, processing and sales of gas and gas condensate, as well as motor fuels. It accounts for about 86% of natural gas produced in the region and fully meets the demand of the city of Yakutsk. It also supplies a broad range of products to the regions of Russia’s Far Eastern Federal District as well as to East Asia.


According to the Company's 2020 financial report, revenue totaled 6.8 billion roubles, EBITDA was at 3.6 billion roubles, EBITDA margin stood at 52.6%, while net debt/EBITDA was 2.5х.