OREANDA-NEWS. October 23, 2012. Home Credit and Finance Bank LLC [Moody’s Ba3 -, Fitch BB-], one of the leading Russian retail banks, executed a successful subordinated Eurobond transaction for the total amount of USD500 million. The issue was 5.7 times oversubscribed, reported the press-centre of HCFB.  

Home Credit announced subordinated Eurobonds issue in the principal amount of USD \\$500 million and 7.5 years tenor with 5.5 years call option. The issue was priced to carry a coupon of 9,375% pa.

“We are pleased with the results of the placement. International investors have demonstrated high interest for our bonds. This serves to confirm our strategy’s viability and success“.

The issue was 5.7 times oversubscribed and attracted strong demand from more than 180 investors from 30 countries, including local and international banks and financial institutions, asset management companies, funds and private banks. The geographical breakdown of investors subscribed to the issue was: continental Europe – 29%, USA -26%, UK – 21% Russia – 16%, Asia – 8%.

The proceeds from the issue will be used by HCFB to support its business growth in retail finance in Russia.