Debevoise & Plimpton has advised Ozon Holdings PLC, a Russian e-commerce platform, on the issue of USD 750 million senior unsecured bonds due 2026, convertible into American depositary shares, representing ordinary shares of Ozon.
The bonds carry a coupon of 1.875% per annum. The initial conversion price of the bonds was set at USD 86.6480, representing a 42.5% premium above the reference ADS price of USD 60.8056, being the volume-weighted average price of one ADS on the Nasdaq Global Select Market between opening and closing of trading on February 17, 2021. The bonds were offered and sold outside the United States in reliance on Regulation S of the U.S. Securities Act of 1933, as amended.
Debevoise’s team was led by London Partner James Scoville and Moscow Partner Alan Kartashkin, and included Partner Richard Ward, Counsels Vera Losonci and Dmitry Karamyslov, and Associates Evgenii Lebedev, Timur Ochkhaev, Milo Gordon-Brown, and Paul Eastham.