The issue arrangers were BCS Global Markets, SovComBank, Alfa-Bank and Otkritie Bank, the issue co-underwriter was Bank SOYUZ. The marketing range of rate for placement was 10.25-10.5% p.a., upon completion of bookbuilding, the demand amounted to RUB 5,490,847. The final coupon rate was set at 10.25% p.a. Quarterly coupon payments and an amortization system of redemption are envisaged for the issue: 5.6% of the par value of the bonds will be repaid on the end dates of coupon periods 1-8, 13.8% of the par value of the bonds will be repaid on the end dates of coupon periods 9-12. At the moment, 4 issues of Element Leasing bonds are circulating in the market. The company has a rating А-(RU) assigned by AKRA (stable outlook).
OOO Element Leasing is a universal leasing company specializing in leasing of commercial vehicles, buses, special-purpose machinery and equipment primarily to SMEs.
Element Leasing firmly holds a place among top 20 Russian leasing companies in terms of financial ratios. The company has a vast regional network with 100 offices in more than 70 Russian cities, more than 35 thousand clients (with a large share of return visits – 48% of the new business). The issuer ranked 10th by the number of signed contracts among the major leasing companies of Russia in 2018.
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.