OREANDA-NEWS. December 01, 2009. Home Credit Bank and Gazprombank (GPB) have successfully completed the placement of the HCFB-4 bond issue in the secondary market. As indicated by the book-building results, the secondary placement price amounted to 101.25%. The effective rate of return is 13.06%, reported the press-centre of HCFB.
 
During the book-building process, demand exceeded supply by 40% in terms of both volume and the pool of investors. This testifies to the liquidity of the security and the issuer’s high credit standing.

As shown by the placement results, 20 bids were satisfied and a total of 2.961 million bonds were sold for more than 3 billion roubles.

Dmitri Mosolov, Deputy Chief Executive of Home Credit Bank: “We are pleased by the results of the placement. The strong demand for the bonds confirms the issuer’s strong standing and the liquidity of the securities and it also indicates that the Russian bond market is recovering. I would also like to recognise our cooperation with Gazprombank in placing the bond issue in the secondary market.

Akaky Beruchashvili, GPB Executive Vice President: ”Thanks to Gazprombank’s focused work with various groups of investors, we were able to complete successfully the HCFB-4 bond placement transaction, which demonstrated investors’ strong interest in HCFB’s business and in its consistent financial indicators”.