|
|
 |
|
 |
 |
Russian Standard Bank placed rub 5bn bond |
|
|
On 15 September 2005 the auction determining the first coupon rate of documentary, non-convertible interest-bearing bonds payable to bearer of Russian Standard Bank was held at the Moscow Interbank Currency Exchange (MICEX). The coupon rate of 7.60% per annum was set at the action.
During the placement total 66 bids were submitted, in total amounted 9 099 269 000 rubles in nominal terms; the proposed coupon rate ranged from 7.12 to 8.70% per annum. 14 bids were satisfied for total amount of RUB 5 000 000 000. The issue was fully placed during the auction at 100% of the nominal value. ING BANK (EURASIA) ZAO and JSB «Gazprombank» (CJSC) are the Joint Lead Managers of the issue. The syndicate group includes Deutsche Bank OOO playing a Co-Lead Manager role and International Moscow Bank ZAO, Petrocommerce Bank and Promstroybank as Co-Managers.
The tenor of the issue is 5 years. Terms of the put option scheduled for 23 March 2007 were published on 7 September 2005 in “Corporate events of credit institutions” newspaper. The issue envisages 10 coupon payments. First, second and third coupon rates equal to 7.60% per annum. Subsequent coupon rates will be announced by the issuer not later than 10 days prior to the expiration of the 3rd coupon period, with possibility of publication of the next put option terms. Subsequent coupon rates can’t be lower than 5% per annum.
The issue was registered by the Central Bank of Russia on 22 July 2005.
Commenting the placement, Levan Zolotarev, Senior Vice President of Russian Standard Bank said: “We would like to express our gratitude to the investors for the support they traditionally show to the realization of the bank’s long-term borrowing program. The successful placement of the 5th bond issue allowed the bank to set a fundamentally new level for its debt instruments”.
“This issue is the largest bond placed by a Russian privately owned bank on the domestic market. We’re happy with the success, mainly due to the high credit rating of the issuer and the focused efforts in marketing of the issue. The demand from investors was no less than 1.82 times higher than the supply. Separately we would like to note the substantial interest from foreign investors towards the issue, which reflects the growing demand for ruble instruments”, - noted Igor Rusanov, Vice President, JSB “Gazprombank”, head of debt capital markets.
According to Harry Harbers, Head of Financial Markets, ING BANK (EURASIA) ZAO: “The placement of the 5th bond issue of Russian Standard Bank was a major success and exceeded our most optimistic expectations. Favourable local market conditions and substantial demand from foreign investors towards the new issue contributed to the successful placement – more than half of the issue was bought by international accounts, and the book was substantially oversubscribed”.
For further information please contact:
Russian Standard Bank, Artyom Lebedev and Vera Panova, tel: +7 095 797 84 20
JSB «Gazprombank» (CJSC), Julia Martina, tel: +7 095 719 1550
ING BANK (EURASIA) ZAO, Maria Poshisholina, tel: +7 095 755 5170
|
|
|
|
|
|
