Sibsteklo has redeemed its debut bond issue

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

According to the schedule, Sibirskoye Steklo LLC (Sibsteklo, an asset of RATM Holding, one of the leading glass container manufacturers) paid income for the 60th coupon period on September 9 and redeemed the remaining outstanding part of the par value of the Sibsteklo-BO-P02 series issue.

6.25 million rubles were transferred towards the redemption: 500 rubles per security. The coupon income amounted to 64.25 thousand rubles: 5.14 rubles per bond.

Let us recall that the company issued bonds of the Sibsteklo-BO-P02 series (ISIN: RU000A1026R9, No. 4B02-02-00373-R-001P dated September 23, 2020) in October 2020, debuting on the Moscow Exchange. The placement volume is 125 million rubles, the par value is 10 thousand.

The issuer set the rate at 12.5% per annum for the entire five-year term of the bonds, providing for coupon income payments once a month. Starting from 41 kp, Sibsteklo also made monthly depreciation payments to investors at 5% of the par value.

The funds raised were used to replenish working capital, including for the commissioning of a new glass furnace.

– From a business point of view, this placement in the company is considered effective, – comments Ekaterina Nesterenko, Director of Finance at Sibstekk. – During this time, market conditions have undergone significant changes – the rates for attracting financing have become twice as high. And in 2020, the spread to the Central Bank’s “key” was 8.25% and the interest income we offered was considered attractive – Sibstekk’s bonds were bought up within one trading day. That is, we were able to interest investors who had been evaluating the plant’s work and the positive dynamics of key indicators for several years. Largely due to the successful start, the company continues to develop its public debt history, having established itself as a reliable borrower.

Today, the issuer has four more issues in circulation – BO-P03, BO-P04, BO-01 and BO-02 – for a total of 1.25 billion rubles.

Reference:

Anton Mor, CEO of Siberian Glass LLC (Sibsteklo, an asset of RATM Holding), is the Chairman of the Committee for the Development of Production and Consumption of Glass Containers of the Association "StekloSouz" of Russia.