A Syndicate for ZENIT's Third Bond Issue Is Established
A syndicate for the placement of Bank ZENIT third bond issue is now established. It includes:
HSBC Bank (RR) and Citibank, as co-arrangers;
IC Capital and Russian Development Bank, as underwriters;
and
CJSC ING Bank (Eurasia), International Moscow Bank, NOMOS-BANK, BINBANK, FC Noosfera, Raiffeisenbank Austria, FC Fonica Finance, and EvrofinansMosnarbankas, as co-underwriters.
The third issue of ZENIT's interest-bearing non-convertible documentary bonds was registered by the Central Bank of the Russian Federation on 5 September 2006 under state registration number 40303255В.
The issue will be placed on 15 November 2006. OJSC Bank ZENIT is acting as the arranger, underwriter and payment agent.
According to the issue-specific documents, the nominal amount of the issue is 3 billion roubles and maturity is 5 years. The bonds have ten 6-month coupons. The bonds will be sold at MICEX. The first coupon rate will be established through bidding to be held at MICEX on the date of the first placement by public offering; the second coupon will be equal to the first one; and the remaining coupons will be determined the issuer.
Parallel to decision-making on the date of the first placement, the issuer decided to make an irrevocable public offer to redeem the bonds on the third business day of the third coupon period.
Documents relating to ZENIT's third bond issue are available online at: http://www.zenit.ru/investserv/attract/
Bank ZENIT was founded in 1994 and places among Russia's 20 largest banks. Moody's and Fitch have established its international ratings at В1 and В, respectively. In 2005, Bank ZENIT purchased controlling interest in Devon-Credit Bank, which resulted in the establishment of the ZENIT - Devon-Credit Banking Group.
By the end of the 3rd quarter 2006, the Group's consolidated total assets amounted to 124 billion roubles, and capital was 15.9 billion roubles as of 1 October 2006. The Group's consolidated corporate loan portfolio is approaching 59.4 billion roubles.
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