The collection of applications for a new issue of exchange—traded bonds of Softline JSC, a leading provider of IT solutions and services in Russia, was completed on May 24, 2023. Rosselkhoznadzor acted as the organizer of the initial placement of bonds. This is stated in the bank's message.
The issue of the 002P-01 series has a circulation period of 2.75 years, a coupon period of 91 days, a nominal value of 1,000 rubles.
The upper limit of the initial benchmark coupon rate was 12.60% per annum, which corresponds to a yield to maturity of 13.21%, and the initial issue volume was 3 billion rubles. The high demand of investors allowed the issuer to reduce the benchmark coupon rate to 12.40% per annum, which corresponds to a yield to maturity of 12.99%, as well as to increase the volume of placement to 6 billion rubles. A wide range of investors showed interest in the issue, including management companies, insurance companies, banks, as well as a wide range of retail investors.
The total demand for Softline bonds during the collection of applications reached 7.5 billion rubles, which is 2.5 times more than the initial issue volume.The demand of retail investors exceeded 2 billion rubles.,
Technical placement and settlements on the Moscow Stock Exchange are scheduled for May 26, 2023.
The issue is the first under the registered program of exchange-traded bonds of the 002P series with a volume of 15 billion rubles.
JSC "Rosselkhozbank" is the basis of the national credit and financial system for servicing the agro–industrial complex of Russia. The bank was established in 2000 and today is a key lender of the country's agro-industrial complex, is among the largest and most stable banks in the country in terms of assets and capital, as well as among the leaders of the reliability rating of the largest Russian banks.
