Obuvrus (a subsidiary of Obuv Rossii LLC) announced that on June 29 it will begin placing a debut bond loan. Bonds will be placed on the MICEX by open subscription. The company plans to issue 700 000 bonds of the 01 series with a par value of 1 thousand rubles. The volume of placement is 700 million rubles. The loan maturity is three years from the date of placement. Offer is available in 1,5 of the year. The loan is organized by Svyaz-Bank Joint-Stock Commercial Bank, UniService Capital, and Acceptance Commercial Bank. The 01 series bond purchase book closed on June 22. The interest rate of the first coupon of bonds by the decision of Obuzhrus was set at 12,25% per annum.
Recall that the company decided to place securities on April 18 2011 of the year. Obuv Rossii is the first company in the Russian shoe market to place a bond loan. In the 2007 year, Obuv Rossii entered the bill market for the first time, in three years of the bill program the company managed to attract more than 700 million rubles for business development. The bond program is a logical continuation of the company's plans to diversify its loan portfolio and work in the open capital market.
The funds that the company will gain from the placement of the bonded loan will be used to implement the investment program until 2015. Under the program, the company plans to invest 1,5 billion rubles in the development of the network, by the beginning of 2015, increase the number of stores to 450 and revenue to 7,5 billion rubles.