Shoes retailer Obuv Rossii (Russian Shoes), registered in Novosibirs, intends to start placement of the first-series three-year $25m bonds in June 2011, the bonds manager and underwriter Accept Bank reports.

Under plans, the company is to invest the raised funds in its development program to run till 2015.

Under the program, by the beginning of 2015 the company is to grow the number of its stores four times – to 420.