X5 Decides to Register Three Issues of Corporate Bonds
21 Jul 2010
Amsterdam, 20 July 2010 - X5 Retail Group N.V. (“X5” or the “Company”), Russia's largest retailer in terms of sales (LSE ticker: “FIVE”), announces today that its wholly owned subsidiary X5 Finance LLC decides to register three issues of corporate bonds for the total amount of RUR 15 billion.
Registration of corporate bonds will allow X5 to diversify available sources for forthcoming debt refinancing.
As of the end of March 2010, the Company’s total debt amounted to USD 1,811 mln (at RUR exchange rate of 29.36), out of which 85% was short-term (USD 1,530 mln or RUR 45 bln) and 15% long-term (USD 280.4 mln or RUR 8.2 bln).
As of 31 March 2010, the Company had access to RUR-denominated credit facilities of approximately RUR 24.6 billion (approximately USD 836 million). Of this amount, approximately RUR 21.1 billion (approximately USD 717 million) represented available undrawn credit lines with major Russian and international banks. The Company also has a commitment from Sberbank for a 5-year ruble-denominated credit line (equivalent of up to USD 1.1 bln).
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