According to a press release from the Moscow Exchange, Binnopharm Group, the pharmaceutical company that which combines the core assets of Sistema Joint-Stock Financial Corporation, has registered a prospectus and an indefinite bond issue program on the exchange.
Under the program, the company will have the opportunity to issue exchange-traded bonds for a total amount of up to 50 billion rubles (or the equivalent of this amount in foreign currency) with the maximum maturity of 15 years. According to Lenta.ru, the details of individual issues will be determined on a case-by-case basis.
As it was explained by the company, by the registration of an indefinite program of exchange-traded bonds of up to 50 billion rubles, Binnopharm Group will be able to diversify its funding sources.
“The company plans active participation in the bond market, raising funds for the implementation of the investment program and refinancing of debt obligations, so the Board of Directors approved the amount of the program. The details of individual issues within the framework of the program will be established by the release decisions,” explained Elina Bagautdinova, the Financial Director of Binnopharm Group.
By entering the bond market, the company will raise funds to continue implementing investment projects, scale the business and develop its portfolio through M&A transactions.