13 October 2020 - Michael Malinovskiy

Debut issue of QIWI Group exchange-traded bonds

Like many other processes that took place in the spring of 2020, the deal from the very beginning was a challenge for all participants

QIWI Group, one of the largest payment services in Russia and the CIS, today has successfully placed its debut issue of exchange-traded bonds of QIWI Finance LLC in the amount of 5 billion rubles on MOEX. Series 001P-01 exchange-traded bonds were placed at a coupon rate of 8.40% per annum for a period of 3 years.

LECAP acted as a legal advisor on Russian law. We accompanied the registration of the perpetual program of exchange-traded bonds in the amount of 30 billion rubles, within the framework of which the issue was placed, and negotiated the documentation for the issue and placement of bonds. In addition, we have prepared three public irrevocable offers on behalf of the parent company and sister companies of the issuer with a wide range of covenants.

LECAP team included Michael Malinovskiy, partner, and Ilya Rynenkov, senior associate.

Ilya Rynenkov commented: "The successful placement of QIWI is not just the result of long hours of work and discussions, but also the invested heart and emotions. Like many other processes that took place in the spring of 2020, the deal from the very beginning was a challenge for all participants in the project, and this adds even more value to the moment. We are glad to be involved in such a bright debut."

The issuance was arranged by VTB Capital, Gazprombank and Sovcombank. Co-arranger — IFC Solid. Representative of bondholders of LLC "QIWI Finance" in accordance with Russian legislation — LCPIS.