Soyuz Bank has exercised a put option on the 2nd bond issue. The bonds were bought back at 101.27% of par value. Bondholders submitted 1,964,805 bonds. Vladimir Izutin, chairman of the Executive Board, noted that the bank expected bondholders to submit for redemption lmost all the bonds of the issue and was ready for it.
1 coupon: set at the auction
2-6 coupons: equal the 1-st one
Coupon frequency:
2 time(s) per year
Settlement date:
Oct 03 2006
Maturity date:
Oct 05 2009
Issue Managers:
Lead: Bank Soyuz
Trading floor:
MICEX (A1)
Issuer profile:
JSCB “Soyuz” (earlier JSCB “Ingosstrakh-Soyuz”, established in 1993) is a large universal commercial bank. It was formed in 2004 as a result of incorporation of 3 banks: Avtogazbank, Sibregionbank and Narodny Bank Sberezheniy to Ingosstrakh-Soyuz bank. General banking license # 2307 granted by the Bank of Russia.
The Bank’s priority activities include organization of bonded debts, trade financing, operations on stock and currency markets, crediting and also rendering retail banking services.
Independent rating, information and analytical agencies include Soyuz bank in top-30 biggest Russian banks. As of 01.01.06 Soyuz bank is on the 28th place in rating of Russian banks regarding own capital and 27th place regarding assets in accordance with “Finance” magazine. Authorized capital of the Bank amounts to 3.1 bn rubles. As of 01.02.2006 the Bank’s own funds amounted to 7.6 bn rubles, assets volume made 52.9 bn rubles.
Standard & Poor’s, international rating agency, assigned the following credit ratings to the Bank: long-term “CCC+”, short-term “C”, outlook “positive”, Russian scale rating “ruBB+”.
JSC “PriceWaterHouseCoopers Audit” audits Russian and IAS financial reporting of Soyuz bank.
Soyuz bank develops actively investment business, corporate, trade financing, operations on stock and foreign exchange markets.
In 2005 volume of the Bank’s operations with securities increased. The Bank showed itself as a bank-organizer and underwriter of bonded debts. In 2005 there were placed bonds of Soyuz bank for the total amount of 1 bn rubles, the rate of the first coupon made 9.65% per annum.
In August 2005 Soyuz bank placed a debut issue of 5-year Eurobonds for $49.8 mln in the context of the first securitization of autoloans in Russia.
Soyuz bank has licenses of a professional participant of stock market, granted by Federal Securities Market Commission, for executing broker, dealer and depositary activities and trust management, license for concluding futures contracts and options.
The Bank was accredited by the Committee of municipal loans and development of stock market of Moscow government as an authorized underwriter and market maker.
In 2005 Cbonds information agency included Soyuz bank in top-10 investment banks. The Bank holds the 4th place regarding quantity of placed issues in combined rating of organizers of bonded debts, 1st place in combined rating of ruble bonds underwriters. The rating of National Securities Association included the Bank in top-15 investment banks-brokers in accordance with the results of 9 months of 2005.
Regional network of Soyuz bank includes regional center-branches in Nizhny Novgorod and Irkutsk, and also branches in St. Petersburg, Miass (Chelyabinsk region), Krasnodar, Krasnoyarsk, credit and cash office in Volgograd. There are 15 offices in Moscow.
