X5 Retail Group NV on March 27 disclosed the placement of 10-billion-Russian-ruble-denominated series 001P-03 bonds issued by LLC X5 Finance.

The bonds have a put option after two years and have a coupon rate of 6.95% per annum.

The Russian retailer plans to use the proceeds from the issue to finance its current operations, including loan refinancing to improve its loan portfolio structure.

Raiffeisenbank, UniCredit Bank and BCS Global Markets arranged the offering. Raiffeisenbank also served as the placement agent.

As of March 26, $US1 was equivalent to 57.39 Russian rubles.