On July 26, 2022 MV FINANCE LLC placed a third bond issue worth 5 billion rubles on MOEX, with BCS Global Markets acting as the Arranger. While the first coupon rate target was 12.60% per annum, the final coupon rate was set at 12.35% per annum (effective yield to maturity at 12.93% per annum). With a maturity of three years, the issue is classified as an eligible investment option for pension savings and insurance reserves, with a credit rating of ‘'A+(RU)’ from the Russian credit agency ACRA.
MV FINANCE LLC is a subsidiary of M.Video PJSC that has been established for the bond issue.
M.Video PJSC ("A+(RU)" by ACRA; "ruA+" by Expert RA), or M.Video-Eldorado Group, is Russia’s largest electronics and home appliances retailer, with 20 million active customers. The Group is represented by two brands, M.Video and Eldorado. According to the 2021 financial report, its revenue (excluding VAT) totalled RUB 476.4 billion, with EBITDA at RUB 27.5 billion, and a net profit of RUB 8.6 billion.
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.