On 22 October 2021, Setl Group LLC made a bond placement worth 7.5 billion roubles on MOEX.
The first coupon rate target during the marketing process was 9.45-9.65% per annum. As part of bookbuilding, the final coupon was set at the lower bound of 9.45% per annum, with the effective yield to maturity at 9.79% per annum. High demand drove an increase in the size of the issue from 5.0 to 7.5 billion roubles. The placement with a maturity of 3.5 years is assigned 'A(RU)' bond rating by Russia’s rating agency ACRA.
Setl Group LLC (‘B+' by S&P, 'A(RU)’ by А CR А ) is one of the biggest financial and industrial holdings in Russia’s north-west, and Top 3 in the country’s construction industry. Over the past 27 years, the Company commissioned 253 residential buildings, 43 school and preschool facilities. In 2020, Setl Group has commissioned 1.5 m sq m of property, a record high for the company, up 13 percent vs 2019.
The government has put Setl Group on the list of systemically important Russian enterprises.