Rostelecom social bonds affirmed by AKRA rating agency
Moscow, Russia – November 21, 2021 – Rostelecom PJSC (MOEX - RTS: RTKM, RTKMP; OTCQX: ROSYY), Russia’s largest integrated digital company, today announces that its social bonds 001P-06R have been verified by the AKRA rating agency and the issuance has been recognised as fully compliant with the international principles and standards (Social Bond Principles (SBP) for financing socially sound and sustainable products that achieve greater social benefits. The inaugural social bond issuance in the expected amount of up to RUB 10 billion will become the first largest social bond in telecoms.
The proceeds will be invested in the refinancing of the existing two projects: Internet access infrastructure in socially significant regions and Bridging the digital divide.
“Our ambition is to utilise social bonds as one of the key instruments to attract debt capital to finance our sustainable development projects. Rostelecom’s business model revolves around social value creation through its digital communication services and solutions which play a significant role in improving quality of life, supporting business efficiency, and indirectly reducing the negative impacts on the environment.
This new debt instrument will help us attract investors with strong focus on ESG credentials. Through launching this bond, with a clear social ambition, we emphasize our commitment to contributing to the communities in which we operate and our ambition to become one of the leading communications companies with social impact at the core of our business spirit. This is an important milestone for Rostelecom as we further strengthen our long-term liquidity and equity profile, and continue to build a more sustainable business that is focused on social value creation.”