Printer Friendly

-Russian Center-Invest Bank starts collecting bids for RUB1.5bn bonds.

M2 EQUITYBITES-April 11, 2012--Russian Center-Invest Bank starts collecting bids for RUB1.5bn bonds(C)2012 M2 COMMUNICATIONS http://www.m2.com

11 April 2012 - Center-Invest Bank has opened an order book for its Series BO-02 bonds worth RUB1.5bn (USD50m/EUR28m), the Russian lender said on Wednesday.

The book was opened on 11 April, while the bank had earlier intended to start collecting bids for the bonds on 16 April. The lender will close the book at 16:00 Moscow time on 17 April.

Center-Invest Bank is planning to sell three-year bonds with a face value of RUB1,000 each. The issue has a one-year put option and can be redeemed early in case the issuer's bonds and shares are delisted. As announced earlier, the guidance for the first coupon rate is between 9.20% and 9.70% a year, equal to a yield between 9.41% and 9.33% to a one-year offer. The coupon will be paid twice a year.

The offering is being arranged by Citibank and Troika Dialog. The bank is expected to issue the bonds on April 19. Most recently, the lender sold Series BO-01 worth RUB1.5bn and Series BO-05 bonds worth RUB1bn in June 2011, with the first coupon set at 8.4%

Center-Invest Bank was established in 1992. Its majority owners are the European Bank for Reconstruction and Development, which owns a 27.45% stake, and German investment and development corporation DEG with a 22.45% stake. The bank is rated Ba3 by Moody's.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2012 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Apr 11, 2012
Words:263
Previous Article:-HSBC to arrange USD100m loan for Dart Energy International.
Next Article:UK job vacancies rose last month.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters