Online microfinance LLC (part of IDF Eurasia) successfully placed bonds totaling 700 million rubles with a 3-year maturity and a coupon of 12.5% per annum. In total, more than 300 investors purchased the bonds, which underscores their growing interest in IDF Eurasia. Ivolga Capital was the organizer and financial adviser of the placement.
A guarantee is provided for the issue on behalf of MFC Moneyman LLC (Moneyman brand). Previously, the company had the highest credit rating (BBB – with a stable Outlook from Expert RA Agency) among all microfinance organizations in Russia.
These results show that IDF Eurasia is successfully coping with the difficult economic environment caused by the coronavirus pandemic, continuing its development and increasing its leading position in the sector.
Co-founder and CEO of IDF Eurasia Boris Batin:
“This issue is the next stage in the implementation of the company’s long-term strategy. The raised funding will be used to scale the business, in particular, to develop existing projects and launch new products. I would also like to note and thank Ivolga Capital for great job and organization. This is our first experience of cooperation with this company. Everyting was organized very professionally.”
General Director of Ivolga Capital Andrey Khokhrin:
“The IDF Eurasia group performed a high-quality retail placement of bonds. The decrease in the yield of bonds in secondary bids immediately after their placement indicates that the investment community positively assessed the work done by the Issuer to raise capital. At the same time, IFC Money Man (issue guarantor) is not only one of the leaders in the microfinance sector in terms of basic business indicators, but also an industry benchmark for credit quality.”