ZENIT's Eurobonds Successfully Placed at 8.75% p.a.
This October, Bank ZENIT successfully placed its Eurobonds in compliance with RegS procedures. The issue was the Bank's largest transaction in the public borrowing market.
The total amount is $200 million, maturity is 3 years, and the coupon rate is 8.75% p.a. Citigroup was the sole book runner and lead manager of the issue.
The larger part of the issue was acquired by investors from Europe and South Asia, and by foreign companies representing the interests of Russian investors. The proceeds will be used to implement the Bank's long-term development strategy, including the loan portfolio increase and liquidity management.
It is the Bank's second Eurobond issue. The first issue placed in 2003 was redeemed in June 2006.
Bank ZENIT Press Service
This press release does not constitute a public offering or advertisement of any securities in the Russian Federation; nor does it constitute an offer to buy or a solicitation of an offer to buy any securities in the Russian Federation.
These materials do not constitute an offer to sell any of Bank ZENIT securities in the United States. Bank ZENIT securities may not be sold in the United States unless registered under the United States Securities Act of 1933, as amended, or unless an exemption from such registration is available.
OJSC Bank ZENIT does not intend to have any part of its offer registered in the United States or make a public offering of any securities in the United States.
Not for dissemination in the United States.
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