OREANDA-NEWS. October 15, 2012. Bank Saint Petersburg placed commercial paper series BO-08 issuance for RUB 5 bn on MICEX. Based upon the book building results, the Bank decided to set the coupon rate on the bonds at 9.50% per annum, reported the press-centre of Bank Saint Petersburg. 

The issue terms imply a 1-year put option.

Over the course of book building, 30 orders were submitted with coupon rates ranging between 9.15% and 9.60% per annum while overall demand amounted to RUB 5 151 million. Given the market situation, cost of placement, coupon rates on the bonds and existing demand, Bank Saint Petersburg has decided to satisfy 28 investor orders.

Proceeds from the issuance will be used to bolster lending to SME and medium-sized corporates, as well as retail lending and to finance ongoing operations.