"Capital Wrestler Places Bonds Worth 4.2 Billion Rubles"

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Russian Real Estate Developer "Borets Kapital" Issues Bonds Worth 4.2 Billion Rubles

Russian real estate developer Borets Kapital (translated as "Borets Capital") has successfully issued exchange-traded bonds worth 4.2 billion rubles ($52 million, based on current exchange rates) under Series 001P-07 at their nominal value.

The company sold 4.2 million bonds with a face value of 1,000 rubles each through an open subscription. The bonds have a maturity of three years and a coupon period of 30 days.

The coupon rate for the entire term of the bonds was set at 17.75% per annum following the book-building process. Initially, the target coupon rate for the first coupon was not expected to exceed 17.75% per annum. The planned issue size was increased from 2 billion rubles to 4.2 billion rubles during the book-building process.

The placement was organized by Alfa-Bank, VTB Capital Trading, Gazprombank, GIA Solutions, Moskovsky Kreditny Bank (MKB), Sinara Investment Bank, and Sovcombank. Gazprombank acted as the placement agent.

Reviewed by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management of the Higher School of Management at the Financial University under the Government of the Russian Federation.