M.Video-Eldorado Group (PJSC “M.video”, the Group or the Company; MOEX: MVID), Russia’s leading e-commerce and consumer electronics retailer, announces start of placement of two-year exchange bonds of the series 001Р-05 with a volume of at least RUB 3 billion. The issuer is LLC “MV FINANCE”, 100% affiliate to PJSC “M.video”.
Book-building will be conducted with a floating rate where the upper limit is a key interest rate + 425 b.p. Coupon period of bonds — 30 days. Bond maturity — 2 years.
Placement organizers are Gazprombank, Investbank Sinara, a placement agent is Gazprombank. A placement price is 100% of the nominal value of bonds which is equivalent to RUB 1,000 per bond. In total, there are at least 3 million bonds placed.
The funds raised during the placement will be spent for general corporate goals of the Group. Bonds are placed as part of the program of exchange bonds of the series 001Р with a volume of up to RUB 50 billion registered in March 2021. Currently, the company has three issues of exchange bonds in circulation, including the latest one.
Group’s financial stability is affirmed by credit ratings of Russian rating agencies: A(RU) “Positive” by ACRA and ruA “Stable” by Expert RA.
Information about means and place to acquire the bonds will be communicated additionally by the company on August 7, 2024, not later than at 20:00.