OREANDA-NEWS. Rusfinance Bank closed the order book for an issue of BO-07 bonds worth RUB 4 bln with a put option of one year.

Fifty investor bids were received for the bonds during book-building with the coupon rate falling between 8.15% and 8.55% annually. The issue was oversubscribed by over 4-fold with total demand coming to RUB 15.851 bln.

Upon conclusion of book-building, Rusfinance Bank set the coupon rate at 8.30%. Despite the negative background of a slowdown of growth in China, poor macro data from Russia and a significant correction in global securities and commodity markets, Rusfinance Bank successfully sold the full amount of bonds within the planned price range. This once again speaks to the high level of trust investors have in the credit profile of the issuer as well as their confidence in the bank’s future prospects.

The funds raised from the issuance will be directed towards financing the bank’s main operations—the provision and further development of its main products: auto and consumer loans at sales points, non-targeted loans and credit cards.

Settlements for the issue of BO-07 bonds will take place on the MICEX Stock Exchange on April 24, 2013.

The deal was arranged by Rosbank and Sberbank CIB.