Last week Selectel a leading Russian data center and related service provider, made a bond placement debut on the Moscow exchange, aiming to raise 3 billion rubles (around $40 million at the current exchange rate).

Bond trading is scheduled for start on February 25. The coupon rate is set at 8.5% per annum — which corresponds to a 8.68% yield taking into account the semi-annual coupon payment.

“Over the past five years, we have been growing by more than 40%, showing high profitability and do not plan to slow down,” Selectel CEO Oleg Lyubimov told VC.RU. The funds raised will be used to build new data centers, purchase high-performance equipment and develop new IT products.

In an earlier exchange with Meduza, Selectel founder Lev Leviev — who also co-founded VK back in 2006 — said that an IPO could take place in the next three years. But “these are just plans” for the moment, he added.