One of the largest medicine manufacturers in Russia, Binnopharm Group, a holding company that combines Sistema’s pharmaceutical assets, has closed the order book for RUB 3 bn 001P-01 series exchange bonds with two years before a put option. After the book-building, the quarterly coupon rate was set at 9.90% per annum.
Elina Bagautdinova, CFO of Binnopharm Group, commented:
Binnopharm Group was incorporated in 2020, and we take pride in being able to register a bond programme within a record short period of time, receive a ruA rating from Expert RA, and hold our first investor events. We are happy that our debut issue attracted a lot of interest from both institutional and retail investors, with the book more than two times oversubscribed. The Company will use the proceeds to finance investment projects and refinance debt.
The offering price was 100% of par value (RUB 1,000). The bonds have a tenor of 15 years, a coupon period of 91 days, and a put option in two years.
The technical placement at MOEX is scheduled for 24 November 2021. Included in the Level 2 quotation list, the issue meets the requirements for investing pension savings and insurance reserves.
The offering was arranged by Alfa-Bank, BCS Global Markets, VTB Capital, Gazprombank, Credit Bank of Moscow, Otkritie Bank, Raiffeisenbank, Russian Agricultural Bank, Sber CIB, Sinara Investment Bank, Solid Investment and Financial Company, Sovcombank, Tinkoff Bank, and UNIVER Capital. SKB-Bank acted as the placement agent.
