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    RTKM   RU0008943394


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ROSTELECOM PJSC: Rostelecom announces RUB 15 bln Bond placement. Coupon rate set at 7.7% per annum

07/13/2021 | 11:33am EDT

ROSTELECOM PJSC: Rostelecom announces RUB 15 bln Bond placement. Coupon rate set at 7.7% per annum

13-Jul-2021 / 18:32 MSK
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

Rostelecom announces RUB 15 bln Bond placement

Coupon rate set at 7.7% per annum

Moscow, Russia - July 13, 2021 - Rostelecom PJSC (MOEX - RTS: RTKM, RTKMP; OTCQX: ROSYY), Russia's national telecommunications operator, today announces the placement of its 002P-06R series bonds at a coupon rate of 7.7% per annum. The bonds have a total nominal value of RUB 15 billion, maturity of 5 years and a nominal value of RUB 1,000 each. The 002P-06R series Rostelecom bonds are expected to be placed on the Moscow Exchange (MOEX) on July 23, 2021.

Proceeds generated from the bond placement will be used for refinancing purposes. VTB Capital, Sberbank CIB and Gazprombank acted as the offering's arrangers.

Sergei Anokhin, Senior VP and CFO of Rostelecom, commented: "The Rub15bn of proceeds raised via bond placement will be used to refinance Rostelecom's debt portfolio without increasing our debt burden. The issue was oversubscribed by 5 times, evidencing investors' confidence in Rostelecom's strong credit rating.  As one of the most credible issuers on the market, we continue to enjoy long-term financing at most attractive rates, which helps us to maintain a comfortable capital structure".

* * *

PJSC Rostelecom is the largest integrated digital services and products company, operating in all segments of the telecommunications market in Russia. It serves millions of households, state and private enterprises across the country.

Rostelecom is Russia's undisputed market leader, providing high-speed Internet access and pay-TV. The total number of broadband users stands at over 13.5 mln users, it has more than 10.8 mln pay-TV customers, over 6.1 mln of which are subscribed to Rostelecom's IPTV services. Tele2 Russia, a Rostelecom subsidiary, is a major player in the mobile market with the industry-leading NPS, a customer satisfaction benchmark. The joint mobile subscriber base is over 46.6 mln users.

Rostelecom is a key strategic innovator that provides solutions in the following fields: E-Government, cybersecurity, data-centres and cloud computing, biometry, healthcare, education and housing & utility services.

During the 1q 2021, the Group generated RUB 132.0 bln of revenues, RUB 55.4 bln of OIBDA (42.0% of revenue) and RUB 11.8 bln of net income.

The Group's stable financial position is confirmed by its credit ratings. Rostelecom has been assigned 'BBB-' and 'BB+' international credit ratings by Fitch Ratings and Standard & Poor's respectively, and AA(RU) by ACRA.

*   *   *

Certain statements in this press release are forward-looking statements within the meaning of the U.S. federal securities laws and intended to be covered by the safe harbours created thereby.

Those forward-looking statements include, but are not limited to:

  • Assessment of PAO Rostelecom's (the Company) future operating and financial results as well as forecasts of the present value of future cash flows and related factors;
  • The Company's plans to take ownership stakes in other organisations;
  • the Company's anticipated capital expenditures and plans to construct and modernize its network;
  • the Company's expectations as to the growth in demand for its services, plans relating to the expansion of the range of its services and their pricing;
  • the Company's plans with respect to improving its corporate governance practices;
  • the Company's expectations as to its position in the telecommunications market and forecasts on the development of the market segments within which the Company operates;
  • economic outlook and industry trends;
  • the Company's expectations as to the regulation of the Russian telecommunications industry and assessment of impact of regulatory initiatives on the Company's activity;
  • other statements regarding matters that are not historical facts.

Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties and other factors include:

  • risks relating to changes in political, economic and social conditions in Russia as well as changes in global economic conditions;
  • risks relating to Russian legislation, regulation and taxation, including laws, regulations, decrees and decisions governing the Russian telecommunications industry, securities industry as well as currency and exchange controls relating to Russian entities and their official interpretation by regulatory bodies;
  • risks relating to the Company, including the achievement of the anticipated results, levels of profitability and growth, ability to create and meet demand for the Company's services including their promotions, and the ability of the Company to remain competitive in a liberalized telecommunications market;
  • technological risks associated with the functioning and development of the telecommunications infrastructure, technological innovations as well as the convergence of technologies;
  • other risks and uncertainties. For a more detailed discussion of these and other factors, see the Company's Annual Report and the Company's other public filings.

Many of these factors are beyond the Company's ability to control or predict. Given these and other uncertainties, readers are cautioned not to place undue reliance on any of the forward-looking statements contained herein or otherwise. The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements (which are made as of the date hereof) to reflect events or circumstances upon the annual report publication or to reflect the occurrence of unanticipated events, except as may be required under applicable laws.


ISIN: US7785291078
Category Code: IOD
LEI Code: 2534001D752JPNM0H170
Sequence No.: 117146
EQS News ID: 1218471

End of Announcement EQS News Service


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Sales 2021 576 B 7 937 M 7 937 M
Net income 2021 35 523 M 489 M 489 M
Net Debt 2021 445 B 6 126 M 6 126 M
P/E ratio 2021 8,73x
Yield 2021 6,32%
Capitalization 308 B 4 223 M 4 239 M
EV / Sales 2021 1,31x
EV / Sales 2022 1,18x
Nbr of Employees 133 700
Free-Float 31,4%
Duration : Period :
Public Joint Stock Company Rostelecom Technical Analysis Chart | RTKM | RU0008943394 | MarketScreener
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Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 92,08 RUB
Average target price 117,30 RUB
Spread / Average Target 27,4%
EPS Revisions
Managers and Directors
Mikhail Eduardovitch Oseevskiy President, Chairman-Management Board & Director
Sergey Anokhin Chief Financial Officer & Senior Vice President
Sergei Borisovich Ivanov Chairman
Alexey V. Sapunov Senior Vice President-Technical Infrastructure
Kirill A. Menshov Senior Vice President-Information Technology
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