CREDIT EUROPE BANK Completes Placement of BO-02 Series Bonds
OREANDA-NEWS. February 14, 2012. CREDIT EUROPE BANK completed the placement of its series BO-02 bonds with a nominal of 5 bln RUB and a maturity period of 1,092 days. The issue structure stipulates a put option 2 years after placement.
As a result of the placement the Bank raised 5 bln RUB, which satisfies the Bank’s current financing needs taking into account yields proposed by investors during book building.
On February 8, 2012 the order book for acquisition of CREDIT EUROPE BANK series BO-02 bonds was closed.
The indicative coupon range of 10.25%-10.75% during book building was reduced to 10.00-10.25% per annum on the day the book was closed. The final rate was set at 25 b.p. less than the initially declared range.
The placement was organised by Alfa-Bank, Troika Dialog, Promsvyazbank and Bank Zenit.
The President of CREDIT EUROPE BANK, Khaluk Aidynoglu, commented: “In connection with the general instability in Russia and Europe, this deal is one of the most successful bank bond placement deals on the Russian debt capital market since the start of the year and is also a successful continuation of the first bond placement deal made in April 2011. The overall investor demand and fact that the placement was made at lower than the initial book building range is a reflection of the successful continuation of CREDIT EUROPE BANK’s public credit history on the rouble bond market. CREDIT EUROPE BANK would like to thank investors for taking part in this deal.”
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