OREANDA-NEWS. July 27, 2012. Nomos Bank ("NOMOS" or "the Bank" or with its subsidiaries, the "Group"), the eight largest Russian bank in terms of total assets and the second largest privately owned universal banking group in the country, has been authorized by the Central Bank of Russia to include the proceeds from its placement of USD 500 million subordinated Eurobonds in its additional capital, thereby increasing Nomos Bank’s total capital base to RUB 70.8 billion, reported the press-centre of Nomos Bank.

The Bank’s capital adequacy ratio increases to 12,68%. These figures are according to Russian Accounting Standards for Nomos Bank stand alone and do not include other banks that are part of NOMOS-BANK Group.

"The inclusion of the proceeds from our successful Eurobond issue in our capital base further strengthens our ability to deliver sustained organic and external growth for the long term," said the President of NOMOS-BANK, Dmitry Sokolov.

The Eurobond issue of USD 500 million with a maturity of 7 years was completed in April 2012. At the date of the issue It was the largest ever issue of subordinated Eurobonds by a Russian bank and has the longest duration, with no call option, by a Russian issuer. It is also the first issue of Eurobonds by Nomos Bank under Regulation S/144A, which allowed qualified US investors to subscribe to the placement.

Nomos Bank currently has Ba3 and BB ratings from Moody’s and Fitch, respectively. The Bank’s new Eurobond issue received ratings of BB- from Fitch and B1 from Moody’s.

This is the ninth issue of international bonds by Nomos Group and the fifth issue by the Bank of subordinated Eurobonds. The first issue by the Bank was in February 2004. There are five issues of Nomos Bank eurobonds outstanding at present — two senior and three subordinated — with a total value of USD 1550 million. One of the senior bonds, with a total value of USD 200 million, will be redeemed in December 2012.