Media Room
18 Aug 2022
BCS Global Markets Acts as Arranger for Bond Issue by Setl Group LLC

On 17 August 2022, Setl Group LLC made a bond placement worth 10 billion roubles on MOEX, with BCS Global Markets acting as the Arranger.

While the first coupon rate target was below 12.70% per annum, during book building, the final coupon was set at 12.15% per annum, with the effective yield to maturity at 12,71% per annum. High demand drove an increase in the size of the placement from 5 to 10 billion roubles. With a maturity of three years, the issue is assigned 'A(RU)' bond rating by Russia’s rating agency ACRA.

Setl Group LLC ('A(RU)’ by 
А CR А ) is one of the biggest financial and industrial conglomerates in Russia’s north-west and second largest in terms of new housing. Throughout its history, the Company has commissioned 299 residential buildings, as well as 53 social facilities. According to the 2021 IFRS report, Setl Group’s revenue stood at RUB 125.3bn (+8% YoY), with RUB 255.8bn in assets (+43% YoY), RUB 29.4bn in equity (+28% YoY), and net debt/EBITDA at 1.3x.