Promsvyazbank Makes Regular Semi-Annual Coupon Payment
OREANDA-NEWS. October 26, 2010. Promsvyazbank has made a regular semi-annual coupon payment in the amount of USD 9.84 million under the USD 225 million 8.75% Senior Loan Participation Notes (Senior LPN) due 2011 issued by PSB Finance S.A., a special purpose vehicle incorporated under the laws of Luxembourg, reported the press-centre of PSB.
USD125 million notes were issued by PSB Finance S.A. on 18 October 2006, followed by the tap issuance of USD100 million notes on 20 March 2007, to form a single consolidated series due on 18 October 2011.
About Promsvyazbank
OJSC Promsvyazbank, founded in 1995, is one of the leading privately-owned Russian banks, with total assets of RUB436.2 billion, and total capital of RUB53.7 billion under IFRS as of 1 July 2010. Holding company Promsvyaz Capital B. V. owns 72.93% of the Bank, Commerzbank Auslandsbanken Holding AG, a subsidiary of the second-largest German bank Commerzbank AG, has a 15.32% stake, and the European Bank for Reconstruction and Development owns the remaining 11.75%. PSB has the following international credit ratings: “Ba2” from Moody’s Investors Service; “B+” from Fitch Ratings.
As at 1 July 2010, PSB had a network of about 250 points of sale in Russia (after the accession of two banks), including 47 branches, a foreign branch in Cyprus, and representative offices in China, India and Ukraine. Upon completion of accession to OJSC Promsvyazbank of OJSC Volgoprombank and OJSC Bank Nizhny Novgorod in May 2010, the Promsvyazbank Banking Group comprises OJSC Promsvyazbank itself as the parent credit institution and OJSC Yarsotsbank. http://eng.psbank.ru/
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