OREANDA-NEWS. Rusfinance Bank announced the closing of the order book for its issue of series 13 bonds with a notional value of RUB 4 bln and put option of 1.5 years from date of sale.

During bookbuilding, forty-nine investor bids were received with the coupon rate falling in the range from 8.00% to 8.35% annually. The issue was oversubscribed by nearly three-fold, with demand coming to RUB 12.62 bln.

Upon conclusion of bookbuilding, LLC Rusfinance Bank set the rate for the first coupon at 8.10% annually, which corresponds to an effective yield to put of 8.26% annually.

Despite the high volatility in the global securities markets in recent months, LLC Rusfinance Bank was able to achieve a full subscription with the first coupon rate 55 bps below the upper end of the guidance range.  This once again demonstrates the high degree of trust investors have in the issuer’s credit profile as well as in the company’s future prospects.

The proceeds from the sale will go towards financing the company’s main line of business, which is consumer lending. The bank plans to continue to develop its main product line: automobile and consumer financing at the bank’s points of sale, general loans, and credit card servicing.

Settlements for the issuance of the series 13 bonds will take place on the MICEX on July 24, 2013.

Arrangers: JSC Rosbank, Sberbank CIB.