Rusfinansbank Floats RUB 2 bn Series 10 Bond
OREANDA-NEWS. November 17, 2010. Rusfinansbank floated a RUB 2 bn series 10 bond. The series 11 bond is due to be floated on November 17. The first coupon rate for both bonds was set after book building at 7.9% per year. The coupon target was initially defined at 8-8.3%, but later reduced to 7.75-8%. Bids could be submitted to Rosbank and Troika Dialog on November 1-12. In total, arrangers received 49 bonds worth RUB 8.3 bn at a 7.7-8.3% target coupon.
The security par value is RUB 1000. The bond was placed on the MICEX by open subscription. In early August 2010, CBR registered Rusfinansbank series 8-11 bonds, each RUB 2 bn on size. On September 20, the bank floated series 8 bonds on the MICEX, while the series 9 bond was floated the next day. Coupon rates for both bonds were set after book building at 7.7%. The bonds are to mature in 5 years, with premature redemption possible in 2 years.
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