Ozon’s $750 Million Convertible Bonds Offering

Debevoise & Plimpton LLP advised Ozon Holdings PLC on the deal.

Ozon Holdings PLC (“Ozon”), a leading Russian e-commerce platform, executed the issue of $750 million senior unsecured bonds due 2026 convertible into American depositary shares (“ADSs”) representing ordinary shares of Ozon (the “Bonds”).

The Bonds carry a coupon of 1.875% per annum. The initial conversion price of the Bonds was set at $86.6480, representing a 42.5% premium above the reference ADS price of $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.

The Debevoise team advising Ozon was led by London partner James Scoville (Picture) and Moscow partner Alan Kartashkin, and included international counsel Dmitry Karamyslov and Vera Losonci, and associates Evgenii Lebedev, Timur Ochkhaev and Milo Gordon-Brown. Tax advice was provided by partner Richard Ward and associate Paul Eastham.

Involved fees earner: Paul Eastham – Debevoise & Plimpton; Milo Gordon-Brown – Debevoise & Plimpton; Dmitry Karamyslov – Debevoise & Plimpton; Alan Kartashkin – Debevoise & Plimpton; Evgenii Lebedev – Debevoise & Plimpton; Vera Losonci – Debevoise & Plimpton; Timur Ochkhaev – Debevoise & Plimpton; James Scoville – Debevoise & Plimpton; Richard Ward – Debevoise & Plimpton;

Law Firms: Debevoise & Plimpton;

Clients: Ozon Holdings Limited;

Federica Tiefenthaler

Author: Federica Tiefenthaler