Sibsteklo will raise 300 million rubles through the placement of bonds on the MICEX

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

On October 28, the Moscow International Currency Exchange started placing a new bond issue of Siberian Glass LLC (Sibsteklo, the largest manufacturer of glass containers beyond the Urals, an asset of RATM Holding) under the number 4B02-03-00373-R-001P.

The volume of attracted investments is 300 million rubles. According to Anton Mor, General Director of Sibstekla, they plan to send them, among other things, to replenish working capital to create stocks of raw materials and finished products:

- Raw materials are needed, because in the current situation, logistics has significantly lengthened, and our production is continuous - it operates 24 hours a day, 365 days a year. Reserves of glass containers are needed to ensure uninterrupted supply to customers during the period of assortment change, which is produced at the glass melting furnace.

The face value of one security is 1,000 rubles, the issue is offered publicly, the circulation period of the issue is 3 years. During this period, monthly coupon income will be paid at the rate of 17% per annum. The arranger of the issue is OOO UniService Capital, the underwriter is Bank Akcept JSC.

Sibsteklo entered the public debt market two years ago, placing a bond issue for 125 million rubles as part of a 50-year program under the number 4-00373-R-001P-02E for a total amount of up to 750 million rubles with the possibility of redemption within five years . In 2021, ACRA assigned the company a BB-(RU) credit rating with a stable outlook.

“Sibstekl's strategy, the positive dynamics of key indicators makes it possible to diversify funding sources using alternative bank lending instruments,” comments Anton Mor. – The company was one of the first in the glass industry to announce itself on the stock exchange. In 2020, the bonds were sold out in a few hours, that is, investors came to the conclusion that the borrower's business model is sustainable, providing them with a stable fixed income.

According to the CEO, the new issue provides for "chips" that increase liquidity for bondholders. First, during the first year, if they require, the issuer undertakes to buy back the bonds quarterly (in the total amount not more than 25% of the issue). Secondly, in 15 months an offer is expected: the company will be able to revise the coupon rate, and the holders will also present the bonds for repurchase, without restrictions on the total amount.

– We continue to form a public debt history, and it is already working for brand recognition in the investment community, – sums up Anton Mor.

Recall that in 2021, a new glass melting furnace was put into operation at the plant, with a capacity of 375 tons of glass melt per day, as a result, the productivity of glass complexes increased by 30% - up to 850 million glass products per year. According to the results of the three quarters of 2022, 605.8 million glass products rolled off the conveyors, which is 20% more than in the same period of 2021.