Bonds «Sibsteklo» on the MICEX sold out in two days

Dear colleagues, we are publishing news about a member of the Association "StekloSouz" of Russia LLC Siberian Glass (Sibsteklo):

The results of the placement of a new bond issue by Sibirskoye Steklo LLC (the largest manufacturer of glass containers beyond the Urals, an asset of RATM Holding) on the Moscow International Currency Exchange, held by open subscription, have been summed up. The company raised 300 million rubles, which will be used, among other things, to replenish working capital to form stocks of raw materials and finished products.

The auctions were held within two days, and the majority of transactions were made on the first day - 523 out of 677. The size of the largest one was 30 million rubles, the minimum was equal to the face value of one security - 1 thousand rubles, the average was fixed at the level of 478.5 thousand rubles. Most often, investors made bids for 100 thousand rubles. The organizers of the issue are UniService Capital LLC and Dialot LLC, the underwriter is Akcept Bank JSC.

The maturity of the bonds is three years. During the first 15 months, the issuer will pay a monthly coupon yield of 17% per annum. At present Sibstekl's bonds are available at secondary trades under ISIN code RU000A105C93. Recall that the borrower has registered a 50-year program under the number 4-00373-R-001P-02E for a total amount of up to 750 million rubles. The debut issue for 125 million rubles with a coupon rate of 12.5% per annum was placed in 2020.

“The situation on the stock market remains quite complex and difficult to predict,” comments Aleksey Melekhov, Managing Partner of the DCM Block, UniService Capital LLC. – Many companies today experience difficulties in attracting investments. Against this background, the new issue from Sibstekl stands out favorably - the bonds were sold out quickly. Obviously, success is connected with a number of factors: the issuer offered adequate conditions - an attractive rate, the optimal circulation period. Probably, the additional parameters became decisive. In particular, four offers are provided - the possibility of repurchasing securities every three months during the first year of circulation. That is, the risks from a general fall in markets and even the closure of the stock exchange, as in March 2022, have decreased, since bondholders have the right to return the invested funds or part of them according to a pre-announced schedule.

In addition, according to Alexey Melekhov, the course of trading was influenced by the company's belonging to the real sector of the economy, the presence of a credit rating (BB- from ACRA), the inclusion of bonds in the MICEX Growth Sector, as well as an impeccable debt history.

“The yield on bonds is now higher than on deposits, but even in these circumstances we must strive for publicity and openness in order to earn confidence in our business,” sums up Anton Mor, General Director of Siberian Glass LLC. - The result - obtaining funding for the implementation of tasks of strategic importance. Sibsteklo intends to continue to use alternative borrowing instruments, which will allow not only maintaining the stability of the enterprise, but also implementing plans for the further development of the plant.