Magnit Changes Resolution Authorizing Issuance of Bonds
OREANDA-NEWS. PJSC "Magnit", Russia's largest food retailer (the "Company", the "Issuer", MICEX and LSE: MGNT), filed the application for the registration of changes to the Resolution authorizing the issuance of bonds and to the Prospectus.
Please be informed that on December 29, 2014 the Issuer filed the application for the registration of changes to the Resolution authorizing the issuance of the non-convertible interest-bearing certified bonds of the 02, 03 series to the bearer with the obligatory centralized custody placed in the form of public subscription eligible for anticipated repayment at the request of holders and at the discretion of the Issuer (the "Resolution), as well as to the Prospectus with the Bank of Russia.
The decision to change (approve) the Resolution and the Prospectus was approved by the Board of Directors of PJSC "Magnit" on December 15, 2014 (Minutes w/o No. of 15.12.2014).
Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of September 30, 2014, Magnit operated 25 distribution centers and over 9,020 stores (7,891 convenience, 243 hypermarkets, and 886 drogerie stores) in approximately 2,000 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2014, Magnit had revenues of USD 9,979 million USD and an EBITDA of USD 1,045 million USD. Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB. Measured by market capitalization, Magnit is one of the largest retailers in Europe.
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