Bond financing

VIS Group was one of the first companies in Russia to issue 4 billion rubles bonds in the framework of a non-concession PPP project.

The securities were issued in 2 stages with the aim of refinancing the funds raised for the implementation of the public-private partnership project in the Yamalo-Nenets Autonomous District. The issuer was OOO VIS Development.

The first issue of the BO-01 series exchange bonds in the amount of 1.7 billion rubles was completed in early October 2017. The second bond placement was made on 21 December 2017 (2.3 billion rubles). The RAEX rating agency assigned the securities issued by VIS Development, LLC a high-reliability ruAA rating. Investors have also put a high value on the project reliability – issuance of infrastructure bonds was completed in full. On April 4, 2018 the issuing company redeemed the securities in their entirety.

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VIS Development, LLC is acting as the private partner in the construction project of 6 children’s educational institutions in several Yamal cities. The project's investment phase has been completed, all the buildings have been constructed and have begun to function. Owing to the implementation of the project, over 1500 new kindergarten places were created, allowing to entirely eliminate the queues for kindergarten placement. The level of availability of educational and medical equipment at the institutions is one of the highest in Russia. Educators from several regions of the Ural Federal District work here. The Government of the Yamal-Nenets Autonomous District is the project's public partner, and it will enter into possession and fully settle the accounts in the first half of 2019. All the payouts are already incorporated in the appropriate tier budgets.