PROMSVYAZ Promsvyazbank has successfully completed the placement of RUB 5 bn series BO-08 bonds (issue identification number 4B020803251B of 30 July 2012). The initial coupon guidance was in the 11.7%-12% p.a. range, but following the book-building the order book was closed with the first coupon rate set at 11.8% for 1 year maturity.
Promsvyazbank itself acted as the placement arranger, while National Standard Bank and RONIN acted as co-underwriters.
The bonds are due in 5 years, with the bond structure providing for an early redemption in one year. The second coupon interest rate is set equal to the first coupon interest rate. The coupon is paid twice a year. Prosvyazbank's series BO-08 exchange-traded bonds were placed on MICEX, with Promsvyazbank acting as a technical underwriter. Series BO-08 exchange-traded bonds are included in the MICEX first level quotation list. Series BO-08 issue also meets the requirements for inclusion in the Bank of Russia Lombard List.
"After a certain pause, Promsvyazbank has resumed raising funds on the Russian debt market. The success of this placement has confirmed that market participants seek exposure to Promsvyazbank, with the books closed at the bottom of the initial price range," said Anna Belyaeva, Vice-President, Head of Financial Markets at Promsvyazbank.
Promsvyazbank OJSC issued this content on 28 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 March 2016 13:57:31 UTC
