Obuv Rossii Group of Companies, one of the five largest shoe companies in the country, has received permission from the Moscow Exchange to bid for three issues of exchange-traded bonds with a total volume of 5 billion rubles and a circulation period of 3 each. Placement of the first bond issue in the amount of 1,5 billion rubles. scheduled before the end of the 2013 year.
The nominal volume of the second issue will be 1,5 billion rubles, of the third issue - 2 billion rubles. The face value of one bond will be 2 million rubles, coupon payment will be made every six months. Coupon rate will be determined before placement. The yield benchmark will be the yield of the Company's bonds issues at the time of placement.
“The funds raised during the placement of exchange-traded bonds will be used to finance the investment program that the company announced in mid-April,” commented Anton Titov, director of Obuv Rossii GC. - Under the Shoes of Russia program, it plans to invest 6 billion rubles in the development of the network, intends to open about 100 stores every year, and plans to increase the network by 2018 times to 3,5 outlets, and revenue by 650 times to 5 billion. This will allow the company to strengthen its leadership in the mid-price segment of the market and increase its share to 16% in value terms. ”
The decision to place three issues of exchange bonds by Obuv Rossii GC was made on 17 on April this year. At present, on the Moscow Exchange are corporate bonds of the company in the amount of 700 million rubles, which were placed in the summer of 2011 of the year. In April 2012, the company's bonds were included in the Moscow Exchange quotation list “B”. In December 2012, the company successfully passed the offer, having bought 0,6% of the issue. The rate for the remaining three coupons is set at 12,85% per annum.