On 7 December 2022, Sistema PJSFC made a bond placement worth 10 billion roubles on Moscow Exchange, with BCS Global Markets acting as an Arranger. The initial coupon target range was 10.20-10.40% per annum but during book building the final coupon rate was set at 10.00% per annum (effective yield to put option at 10.38% per annum). Rated as ’ruAA-’ by Russian rating agency Expert RА, the issue has a 10-year maturity and a put option in three years.
AFK Sistema PJSFC (‘ruAА-‘ by Expert RА) is one of the largest private investors in the Russian economy with a unique portfolio of assets across sectors, including telecommunications, timber processing, agriculture, pharmaceuticals, medicine, real estate, and e-commerce. Currently, it has major stakes in MTS, OZON, Segezha Group, Etalon Group, MEDSI, Binnopharm Group, and others.
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.