On 28 September 2021, TAMI i KO Ltd. made a debut bond placement worth 2 billion roubles on MOEX.
The order book for the series BO-01 debut bond issue was filled over 3 days, September 21-24, 2021, after a 2-week pre-marketing campaign, including an online presentation for investors on the Moscow Exchange. The coupon rate was set at 10.50% per annum, with effective yield to maturity of 10.92% per annum. 165 transactions were registered during the primary placement. With a maturity of 3.5 years, the issue provides for amortization starting from Year 2. All major categories of institutional investors (banks, investment and asset management companies), as well as retail investors filed the bids. The issue is classified as an eligible investment option for pension savings and insurance reserves.
The offering was arranged by BCS Global Markets, Raiffeisenbank, SberCIB, Solid Investment Financial JSC, ITI Capital, Sovcombank, and UNIVER Capital. Technical support was provided by BCS Global Markets.
TAMI i KO Ltd. operates all HENDERSON-branded stores, with a focus on men's clothing, footwear and accessories. HENDERSON has had a successful presence in men's fashion market for 25+ years. TAMI i KO Ltd. relies on a wide range of sales channels, including a network of brand stores,
e-commerce (direct delivery and click & collect service), as well as Russia’s largest marketplaces.
"HENDERSON's debut bond issue was a great start for the company in the public capital markets. This issue is a bright spot in the bond market, and demand from both institutional and retail investors is further evidence to it. HENDERSON has the capacity to become one of the key benchmarks for fashion retail in the debt market," said Denis Leonov, Head of DCM at BCS Global Markets.
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.