OREANDA-NEWS. November 21, 2012. 23 investors have placed their bids while the coupon was set at 11.25%, the lower end of the initial price guidance ranging from 11.25 to 11.75%. Due to oversubscription, the guidance was several times tightened during the marketing, reported the press-centre of Europlan.

Demand for bonds exceeded the issue amount over 1.5 times at the closing price despite unfavorable market conditions. This allowed the issuer to upsize the offering to RUB 3.5bn from RUB 3bn.

Raiffeisenbank and Sberbank CIB arranged the deal. Europlan’s credit rating by Fitch Ratings – "BB-".  The issue rating: "BB-".

This deal is one of the rare public placements of independent leasing companies. Europlan’s bonds marketing results testified high credit qualities of the issuer which was properly rated by investors.

Commenting on the results of the placement President of Europlan Nikolai Zinoviev said: "The deal has been successfully closed despite the unstable market conditions and traditional Russian investors’ skepticism regarding the leasing industry. In the current market situation, investors were very selective, considering high quality issuers, leaders of their sectors. They focused on the business model proven by crisis, successful credit history, high financial and operational performance. We are glad that investors rated quality of Europlan by numerous orders and the coupon rate at the tight end of the marketing guidance".

Proceeds from the bonds will be used for the Issuer’s general corporate purposes finance, financing of lease operations in Russia.