On 9 December 2021, PIONEER GROUP JSC issued bonds worth 3 billion roubles on MOEX. During book-building, the final coupon rate was set at 11.75% per annum, with the effective yield to maturity at 12.28% per annum. This placement has been marked by the lowest yield spread to the MOEX g-curve in the history of the Company on the debt capital market. The issue has a maturity of 4 years, and amortisation is scheduled in equal installments in the final year. It is classified as an eligible investment option for pension savings and insurance reserves, and has been assigned a ‘ruА-’ from Russian rating agency Expert RA.
PIONEER GROUP JSC (‘A-(RU)’ by ACRA, ‘ruA-’ by Expert RA) focuses on multifunctional and complex residential urban development projects with subsequent property management and maintenance services. The Group is a leader in Russia in terms of appeal to real estate investors. Pioneer Group is well-recognised through its signature projects – LIFE smart comfort class apartments dominated by smart technology and YE'S aparthotels. PIONEER GROUP has been present on the real estate market for 20 years, with a portfolio of 22 projects in Moscow and St. Petersburg, with a total area of 2.4 million sq m.
On 14 December 2021, Brusnika. Construction and development LLC issued bonds worth 4 billion roubles. The initial coupon rate ranged between 11.75-12.00% per annum, and during book building the final coupon rate was set at 11.85% per annum, with the yield to maturity at 12.39% per annum. The issue has a maturity of 3.5 years, and amortisation is scheduled in equal installments in the final year. It is classified as an eligible investment option for pension savings and insurance reserves, and has been assigned a ‘А-(RU)’ from Russian rating agency ACRA.
Brusnika. Construction and development LLC (‘A-(RU)’ by ACRA, ‘ruBBB+’ by Expert RA) is a Russian developer with a focus on construction of residential high-rise buildings. Founded in 2004, Brusnika constructs modern affordable housing in large cities of the Urals and Siberia, in Moscow and the Moscow Region. It is Top 10 in the national rating in terms of contract numbers (221,000 sq m of registered contracts as of 9M2021) and is part of the list of Russia’s systemic companies.
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.