OREANDA-NEWS. On 12 March 2009 was announced, that TransCreditBank closed a deal for buy-back and early redemption of USD52 mln worth of its outstanding Eurobond issue.  The total size of the 3-years’ issue which was placed in May 2007 is USD400 mln.  ABN AMRO Bank and Standard Bank acted as arrangers and bookrunners of the issue.

S.N.Pushkin, President of the Bank: “Early redemption will allow TransCreditBank to cut on its debt service expenses relating to the issue which falls due in May 2010.  The buy-back proved possible because we succeeded in retaining high liquidity in the crisis environment, which proves that TransCreditBank is able to efficiently manage its public debt”.