O1 Properties plans flotation of debut issue of Eurobonds on global markets  

Moscow, 9 September 2016. – The investment company O1 Properties Limited, one of the largest owners of A-class office property in Moscow, plans flotation of its debut issue of Eurobonds in dollars. A road show is taking place from 9 to 16 September in Moscow, Zurich, Geneva, London, New York and Boston. Credit Suisse, Goldman Sachs, J.P. Morgan, Raiffeisen Bank International and VTB Capital are organizing the event.  

Dmitry Mints, Chairman of the Board of Directors of O1 Properties: “We want to take advantage of appropriate market conditions to reach new markets for our capital. The funds raised will be spent on the repayment of other loans, meaning that the loan burden of O1 Properties will not increase. Furthermore, entering the Eurobonds market will allow our company to diversify our funding sources and to increase the average duration and percentage of public debt in our credit portfolio.”       

International agencies Moody’s and Standard &Poor’s have rated the planned Eurobond issue as В1 and В+, respectively, and noted that the company is showing a positive financial performance compared with the market average. O1 Properties is able to preserve its financial stability due to its high-quality asset portfolio, consisting predominantly of modern A-class business centers located in Moscow’s business district; a diversified pool of tenants, 68% of which are large international companies together with its long-term lease agreements. 

The agencies have scored O1 Properties highly for its conservative financial policy, anticipating that the loan debt burden of the company will decrease as the trend of market stabilization is maintained.

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