OREANDA-NEWS. September 06, 2012. The Bank of Russia accepted the subordinated status of theSeries 13 bonds recently placed by Promsvyazbank. The bonds (state registration number 41103251B) with a nominal value of 5 billion rubles were placed by private subscription among institutional investors on August 10, 2012, reported the press-centre of Promsvyazbank.

Funds received in payment of bonds can be included in additional capital for PSB as of August 31.

PSB will use the raised funds to further strengthen its capital base and to sustain growth in business and assets.

The coupon rate was set at 12.25% per annum. The bonds mature in 5.5 years and have neither put nor call options.