Magnit launches bookbuilding for $162m bond

Food retail chain Magnit is about to start bookbuilding for its series BO-07 tradable bond worth RUB 5bn (approx. USD 162.28m), which will run from September 17, 2012 until 5 p.m. Moscow time of September 18, according to a statement released by the company.

      According to earlier reports, Magnit's board of directors passed a resolution on July 14, 2011 to place by open subscription series 07 through 09 three-year tradable bonds worth RUB 15bn (approx. USD 486.85m). Each issue is expected to consist of 5m bonds with a par value of RUB 1,000 (approx. USD 32.46).

      Earlier, Magnit has floated six issues of tradable bonds worth RUB 15.5bn (approx. USD 503.08m).

RBC