On 11 August 2021, MV FINANCE LLC placed a second bond issue worth 9 billion roubles on MOEX, with BCS Global Markets acting as the Arranger. During bookbuilding the final coupon rate was set at 8.10% per annum (the yield to maturity at 8.35% per annum). Concerted efforts by the Issuer and the Arrangers drove significant oversubscription (demand totalled 11.7 billion roubles), and the Issuer decided to increase the issue size from 5 to 9 billion roubles. With a maturity of 3 years and a ’А+(RU)’ rating by ACRА, the issue is classified as an eligible investment option for pension savings and insurance reserves.
MV FINANCE LLC is a special purpose vehicle set up by M.video PJSC for bond issuance.
M.video PJSC (‘A+(RU)’ by ACRA; ‘ruA+’ by Expert RA), or M.Video-Eldorado Group, is Russia’s biggest brick and mortar chain with a focus on consumer electronics and household appliances (a market share of 27% with 1,000+ stores across the country in 2020), as well as the biggest retail operator in the online segment (a market share of 33%). The Group has two brands, M.Video and Eldorado.