Promsvyazbank Placed Eurobonds
OREANDA-NEWS. April 25, 2012. PSB closed the placement of USD 400 mln of 5-year Eurobonds with a coupon of 8.5% paid semi-annually, reported the press-centre of Promsvyazbank.
"Despite the volatility in capital markets, PSB has chosen a strategy of raising long-term financing. The book was two times oversubscribed and as a result the final pricing was fixed at the lower level of the initial pricing range of 8.5 – 8.625%. We are the first Russian private financial institution to appear on the international capital markets in 2012” – commented Anna Belyaeva, Vice-President, Director of Financial Institutions and International Capital Markets Department in PSB.
Eurobond issue was done under the MTN program of the bank according to 144A/RegS rules. The organizers of the issue were Promsvyazbank, Barclays, Citigroup and Credit Suisse.
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