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Moscow Exchange · RU000A109825
Maturity 22/06/2034 · floating coupon
The yield to maturity is 53.08 % a year. The coupon is floating: its rate follows a reference rate. It matures on June 22, 2034, in 7.7 years.
The last trade price is 99.76 % of face value as of 05/08/2026, 23:50 MSK.
The yield to maturity on RU000A109825 is 53.08 % a year. It is calculated from the last traded price and accounts for every remaining coupon together with the return of face value, which is why it differs from the coupon rate.
The face value is returned on 22 June 2034, which is 8 years from today. Trading in the issue stops on the maturity date and the money is credited to the holder's brokerage account.
The coupon rate is 16.25 % a year on the face value, paid 12 times a year. The next coupon falls on 2 September 2026.
Yes, the put date is 6 August 2026. On that date the holder may present the bond for redemption at par, while the issuer usually gains the right to reset the coupon for the following period — so the real investment horizon ends at the put rather than at maturity.
One bond has a face value of 1,000.00 ₽. Prices in the order book are quoted as a percentage of it, so a quote of 98.4 means 98.4 % of face value.
The security trades on level 3 of the Moscow Exchange quotation list. The level reflects how strictly the issue meets requirements on disclosure, size and the issuer's track record.
The issue is available to any investor: qualified status is not required and no broker's test needs to be taken.
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An exchange-traded bond is a corporate issue registered by the exchange itself rather than by the Bank of Russia. The simplified procedure exists so that companies can borrow quickly: registration takes days rather than months and requires no prospectus approval from the regulator. Most Russian corporate debt is placed in this form today.
The form of registration does not change the holder's rights: the same coupons, the same face value, the same order of claims. What differs is the route to market, and the fact that only an issuer whose securities are already admitted to trading may place them.
Many issues come to market through programmes: the company registers framework terms once and then brings out individual series as the need arises. Hence the long designations such as "BO-002R-03" — they describe the programme number and the sequence of the issue within it, not the quality of the bond.
The listing level — first, second or third — shows how strictly the issue meets the exchange's requirements for size, the issuer's track record, disclosure and the presence of a rating. Bonds on the first and second levels are available to every investor; part of the third level and the high-yield segment require qualified investor status or the completion of a broker's test.