OREANDA-NEWS. October 29, 2012. Fitch Ratings has assigned Eurasia Capital S.A.'s USD500m 9.375% seven and a half year subordinated issue of callable loan participation notes, due 24 April 2020, a final rating of 'B+', reported the press-centre of HCFB.

The terms of the loan agreement include the call option executable on 24April 2018 (the reset date). After the reset

date the interest rate is determined as two year US treasuries rate +862.4bp.

The proceeds from the issue will be on-lent to Home Credit & Finance Bank (HCFB), which has a Long-term Issuer Default Rating (IDR) of 'BB-'/Stable, a Short-term IDR of 'B', a Viability Rating of 'bb-', a Support Rating of '5' and a Support Rating Floor of 'NF'. HCFB is the sole borrower under the subordinated loan agreement and its obligations.

HCFB is one of the leading mass-market retail lenders in Russia, with a market share of approximately 22.3% in POS loans, 3.1% in credit cards, 3.0 % in cash loans as of 30 June 2012. It is fully owned by Home Credit B.V., a 100% subsidiary of PPF Group N.V. (whose majority shareholder is Czech businessman Mr. Petr Kellner.).