On 4 October 2017, VIS Development successfully placed its BO-01 series bonds with a total value of RUB 1.7 billion. The debt securities were issued for the purpose of refinancing the funds raised to implement the public-private partnership project in the Yamal-Nenets Autonomous District. This is the first non-concession PPP project in Russia under which bonds were raised by a private party.
The investment stage of the project is complete: all the facilities have been built and put into operation. In total, five kindergartens and an elementary school were built in Salekhard, Novy Urengoy, Muravlenko, Tazovsky and Gorki. The public partner of the project is the government of the Yamal-Nenets Autonomous District, which will take ownership of and pay for all the facilities in full in the first half of 2019. All payments are included in the budgets at the corresponding levels.
Investors praised the degree of reliability of the project – the placement of infrastructure bonds was completed in full at a rate of 11%. The arranger of the issue was SMP Bank. The bonds will mature in 1.5 years. The par value of one bond was 1,000 roubles.