OREANDA-NEWS. The order book was closed for OJSC Magnit’s series 01 bond issue. The bonds are worth RUB 5 bln and have a three-year (1,092 days) maturity period from the date of sale.

During book-building, 42 investor bids were received for the bonds with the coupon rate falling in the range from 8.45% to 8.65% annually. Total demand for the bonds equalled RUB 12.9 bln.

Following book-building, the coupon rate for OJSC Magnit’s series 01 bonds was set at 8.50% annually. Given the market situation, placement price, coupon rate, and demand for the bonds, OJSC Magnit decided to accept 33 investor bids.

Settlements for the deal will take place on the Moscow Exchange on February 26, 2013.

Based in Krasnodar, Magnit Open Joint-stock Company is the holding company of the group of companies engaged in retail trade via the Magnit chain. The Magnit chain is one of Russia’s leading food retail chains. As of December 31, 2012, Magnit had 6,046 convenience stores, 126 hypermarkets, 20 “Magnit Family” stores, and 692 cosmetics stores in 1,605 locations throughout Russia. Around two-thirds of the Group’s stores are located in cities with populations of less than half a million inhabitants. The majority of stores operate in the Southern, North Caucasian, Central, and Volga Federal Districts.