10.07.2023
Polymetallic Holding Company Seligdar paid quarterly coupon on its debut gold bond issue GOLD01 in the amount of 167.6 million Russian roubles.
‘Seligdar was the first in Russia to issue gold bonds and they have already demonstrated high yield. As planned, proceeds from the bond issue were directed to refinance a part of the gold loan coming due the current year. Since 2015, Seligdar has been borrowing in gold thus hedging its exchange rate and price risks. Last year, bank temporarily halted giving gold loans and that is why we have chosen an alternative debt instrument to support dynamic development of Seligdar. By 2030, we plan to reach production level of 20 tonnes of gold per year’, noted Chairman of the Board of Directors Aleksandr Khrushch.
For the first coupon period between 07.04.2023 and 07.07.2023, investors received the total return (coupon and capital gain yield) at 11.5% in Russian roubles that made 46% per annum.
May 19, 2023, Seligdar completed placement of 5-year GOLD01 series gold bonds. The final placement volume exceeded 11 billion Russian roubles that was almost 4 times higher than its initially announced volume in 3 billion Russian roubles. Seligdar is the first in Russia to issue gold bonds – a new financial instrument for saving money in gold.