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X5 places RUB 5 bln in corporate bonds

April 23, 2019. TAG: Retail Trade

X5 Retail Group N.V. ("X5" or the "Company"), a leading Russian food retailer (LSE and MOEX ticker: "FIVE"), announces the placement of RUB 5 bln in rouble-denominated series 001P-05 bonds issued by LLC X5 Finance.

The coupon rate on the bonds, which have a put option after 3 years, has been set at 8.45% p.a. The Company plans to use the proceeds from the issue to finance its current operations, including loan refinancing to improve the structure of the loan portfolio.

The offering was arranged by BCS Global Markets, VTB Capital, Gazprombank, Credit Bank of Moscow, Otkritie Bank, Raiffeisenbank, Russian Agricultural Bank and Sovkombank.

The placement agent was Raiffeisenbank.

X5 Retail Group CFO Svetlana Demyashkevich commented: "This bond placement has enhanced the quality of X5's loan portfolio and enabled us to reduce borrowing costs. We have further improved both the coupon rate and the terms of financing from our previous debt issue this year."

X5 Retail Group

X5 Retail Group is the leading multi-format food retailer in Russia. X5 shares are listed on the London Stock Echange (LSE) and Moscow Exchange in the form of Global Depositary Receipts under the ticker "FIVE". The Company operates several retail formats, including the chain of conveniently located proximity stores under the Pyaterochka brand, the supermarket chain under the Perekrestok brand, the hypermarket chain under the Karusel brand.