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LENTA SETS THE FIRST COUPON RATE OF RUB BOND ISSUE

5 Aug 2015 10:02

RNS Number : 1554V
Lenta Ltd
05 August 2015
 



 

LENTA SETS THE FIRST COUPON RATE OF RUB BOND ISSUE

 

St-Petersburg, Russia; 5 August 2015 - Lenta, (LSE, MOEX: LNTA), one of the largest retail chains in Russia, today announced it has set the first coupon rate of RUB 5 billion BO-03 series bonds (the "Bonds").

 

The BO-O3 series bonds have a 30-month put option from placement and a maturity of 10 years with a nominal value of RUB 1,000 each. Order books opened on 3 August 2015 and closed on 4 August 2015. The bonds will be placed on MOEX and settled on 6 August 2015.

 

The indicative coupon rate was set in the range of 12.2%-12.7%. At the close of book building the final interest rate was set at 12.4%. Interest for the first 30 months will be payable semi-annually, with the first coupon payment due 6 months after the initial settlement date. All five coupon payments will bear the same rate of 12.4%.

 

The BO-O3 Bonds are Lenta's fourth bond series traded on MOEX. Lenta previously issued bond series 1, 2 and 3 in March 2013 for a total amount of RUB 10 billion. In addition, the company has registered an exchange bonds program in the amount of RUB 28 billion.

 

Proceeds from the bond issue will provide Lenta with additional financial flexibility to accelerate its store opening programme in 2015 and beyond.

 

VTB Capital CJSC and JSC Raiffeisenbank acted as arrangers of the placement.

 

About Lenta

Lenta is one of the largest retail chains in Russia and the country's second largest hypermarket chain (in terms of 2014 sales). The Company was founded in 1993 in St. Petersburg. Lenta operates 118 hypermarkets in 631 cities across Russia and 27 supermarkets in Moscow, with a total of approximately 763,145 sq.m of selling space. The average Lenta hypermarket store has selling space of approximately 6,200 sq.m. The Company operates five owned hypermarket distribution centres.

 

The Company's price-led hypermarket formats are differentiated in terms of their promotion and pricing strategies as well as their local product assortment. The Company employed approximately 35,100 people as of 31 December 20142.

 

The Company's management team combines a mix of local knowledge and international expertise coupled with extensive operational experience in Russia. Lenta's largest shareholders include TPG Capital and the European Bank for Reconstruction and Development, both of which are committed to maintaining high standards of corporate governance. Lenta is listed on the London Stock Exchange and on the Moscow Exchange and trades under the ticker: 'LNTA'.

A brief video summary on Lenta's business and its Big Data initiative can be seen here.

 

For further information please visit www.lentainvestor.com, or contact:

Lenta

Anna Meleshina,

Public Relations & Government Affairs Director

Tel: +7 812 363 28 53

E-mail: anna.meleshina@lenta.com

 

Yana Mogileva, PR Manager

Тel:+7 (812) 336 39 97

E-mail: yana.mogileva@lenta.com

 

Instinctif Partners

International Media:

Mark Walter and Tony FriendТel:+44 (0)20 7457 2020

E-mail: Mark.Walter@instinctif.com

 

Russian Media:

Anton KarpovТel:+7 495 660 05 91

E-mail: Anton.Karpov@instinctif.com

 


1 Lenta has changed methodology for calculating number of cities of presence and since 1 May 2015 all cities located in Moscow City and the Moscow region are shown as Moscow.

2 FTE (full-time equivalent). Average FTE for 2014 was 27,200 employees.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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