X5 Completes Placement of Corporate Bonds
OREANDA-NEWS. On 23 June 2009 X5 Retail Group N.V., Russia's largest retailer in terms of sales (LSE ticker: “FIVE”), announced that it completed placement of RUR 8 bln of corporate ruble bonds with a 7-year maturity and a put option in 2 years, through its 100%-owned subsidiary ZAO X5 FINANCE.
The coupon rate for the first 2 years (until put) was fixed at 18.46% p.a., coupon rates for years 3 – 7 will be set by the issuer before the put option exercise date. The coupon will be paid semiannually.
X5 intends to use the proceeds from the placement for partial repayment of the Company’s short-term obligations in order to improve its debt maturity profile.
ZAO Raiffeisenbank and CJSC “VTB Capital” are Lead Managers of this bond issue, JSC “ALFA-BANK” is Co-Lead Manager.
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