Car dealer Rolf may launch IPO, issue short-term bonds

MOSCOW, Mar 13 (PRIME) -- Russian car dealer Rolf is considering an initial public offering (IPO) and short-term bonds, company officials said late on Tuesday at a debut ceremony for Rolf’s exchange bonds.

“We are always ready for new discoveries and achievements. Regarding the IPO, we are now looking into it, and the degree of our readiness is confirmed by the fact that we are still a LLC, not a PJSC,” Rolf CFO Alexander Ozeryanov said, adding that the IPO is more of a mid-term or a long-term issue.

Vladimir Kozinets, director of the company’s treasury and risk management department, said that the company is now studying demand for short-term bonds.

“We are now looking into the issue of short-term bonds, we are looking at what we can do to replace short-term financing with bonds, similar to what VTB Bank and VEB.FR are doing now. It is possible that we may move in that direction as well,” he said.

On Tuesday, Rolf placed 3 billion rubles of debut 3-year exchange bonds with the first coupon at 10.45% annually.

(65.7674 rubles – U.S. $1)

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