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SB Bank (Sudostroitelny bank, Ltd) successfully started the practice of raising funds in the international markets, establishing a USD 200 mln Loan Participation Note program. |
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SB Bank (Sudostroitelny bank, Ltd) successfully started the practice of raising funds in the international markets, establishing a USD 200 mln Loan Participation Note program. The dealer and the arranger of the program is BCP Securities LLC, and the paying agent - Deutsche bank AG.
For the initial amount of USD 10 mln the terms have been set as follows:
maturity: January 23, 2008,
coupon: 9,5 %,
coupon dates: July 23, 2007, and January 23, 2008.
As a result of oversubscription the book was closed at the rate of USD 11 mln. The whole issue has been placed among 18 US and European investors. "We are quite content with the results of our debut fundraising in the international markets, - Chairman of the Board Alexey Golubkov states. – On a highly competitive market – and there are securities of more than 50 issuers from Russia, Kazakhstan and Ukraine, at present on the market – it's not so easy to attract attention. Investors have really wide choice. Despite that fact we managed to get oversubscription right in the first issue. And it's especially valuable as some of our investors are known for their prudence and conservatism. We feel this is the merit of the declared development strategy of the SB Bank. We position ourselves as a corporate bank servicing small and medium-sized businesses. Our retail activities are of additional nature, though they provide rather volume programs of mortgage finance in Moscow and regions as well as rapidly developing credit cards services".
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CBONDS MESSENGER 
