OREANDA-NEWS. October 23, 2014. This is the second public placement of Volkswagen Bank RUS ruble bonds.

Volkswagen Bank RUS closed the book with a total nominal value of 10.0 bln RUB, with the two-year put option.

The initial coupon guidance was set at 11.00%-11.40% per annum, which corresponds to a yield to put of 11.30%-11.73%. Finally, the coupon rate equalled 11.30% per annum (yield to put of 11.62% per annum). Investors submitted nearly 40 orders within coupon range of 11.00% -11.30% per annum.

The latest placement of Volkswagen Bank RUS bonds is one of the most successful deals in the Russian debt market in the 3rd quarter of 2014. Under the conditions of high volatility in the market and investors’ caution against mid-term and long-term investments, Volkswagen Bank RUS bonds attracted sufficient demand from the investors. The second deal with Volkswagen Bank RUS bonds in the Russian bond market in 2014 additionally confirms the high level of investors’ confidence in the high credit quality of the Volkswagen group.
Settlement of Volkswagen Bank RUS bonds series, 08 took place on Moscow Exchange on October 15, 2014, and series, 09 - on October 16, 2014.

The Lead Managers: JSC JSCB "ROSBANK" (Societe Generale Group), Sberbank CIB, UniCredit Bank.

JSC JSCB "ROSBANK" (Societe Generale Group) also acted as a Sole Documentation Agent of the transaction, Sole Structuring Agent of the Program and Technical Underwriter.