OREANDA-NEWS. October 8, 2012. CREDIT EUROPE BANK successfully closed the order book for its issue of three-year series BO-03 bonds. Fifty-one investor bids for the bonds were received.

The coupon rate fell in the range of 9.50-10.0% annually. According to the final results of the book-building, CREDIT EUROPE BANK set the first coupon rate at 9.80% annually. In accordance with the terms of the placement, the value of the series BO-03 bond issue was RUB 5 bln. The tenor is three years with a put option after one year. Settlements for the series BO-03 bond sale will take place on the MICEX stock exchange on October 9, 2012.

The interest displayed by investors and partners for CREDIT EUROPE BANK’s bonds speaks to the confidence in CREDIT EUROPE BANK as well as to the high estimation of the company’s activity and prospects for future development.

Arrangers for the sale were Alfa-Bank and Sberbank CIB1 (formerly Troika Dialog), Promsvyazbank, and Bank Zenit. Settlements for the issue will take place on the MICEX stock exchange on October 9, 2012.

CREDIT EUROPE BANK currently has two bond issues in circulation, BO-01 and BO-02, each worth RUB 5 bln.

“We see this issue as very successful,” commented Olga Gorokhovskaya, DCM director at Sberbank CIB. “Even though supply from financial institutions is quite serious, the order book for CREDIT EUROPE BANK’s bonds was oversubscribed two-fold. Heightened interest from investors over the course of the placement allowed CREDIT EUROPE BANK to lower the coupon guidance three times.”