Bank ZENIT executed put option on 03 series bonds
On 15 May, 2009 OJSC Bank ZENIT executed put option on 03 series bonds (individual state registration number 40303255B of 05 September, 2006).
In accordance with put option terms, OJSC Bank ZENIT repurchased 1 627 950 bonds at 100 percent of par value. 76 percent of repurchased bonds were placed back with over 30 investors at 100 percent of par value the same day. This equals to effective yield of 16,67 percent to the next put option, which is due on May 14, 2010 at 100 percent par value.
Placement of OJSC Bank ZENIT 3rd series 5-year maturity bonds for RUR 3 bn took place on 15 November, 2006 at MICEX. Coupon rate for 1-2 coupon periods was fixed at 8.45 percent p.a. The 3rd coupon was fixed at 9.50 percent on 2 November, 2007. On 30 April, 2008, 4 and 5 coupons were set at 9.90 percent. And coupon rate of 16.00 percent was fixed for 6 and 7 coupon periods on 30 April, 2009.
OJSC Bank ZENIT bonds enter the MICEX "A" level 1 quotation list.
As well bonds of OJSC Bank ZENIT are put in the Lombard list which allows their holders to refinance with the CBR against collateral of OJSC Bank ZENIT bonds through REPO deals at MICEX organized state bond market.
OJSC Bank ZENIT acted as organizer, underwriter and payment agent of the issue.
OJSC Bank ZENIT 03 series bond issue documents are available at site ZENIT.
FOR REFERENCE
Banking Group ZENIT was formed in 2005 as a result of the purchase by Bank ZENIT of a controlling stake in JSB Devon-Credit (OJSC). In 2007, the Banking Group acquired OJSC Lipetskkombank and JSB Sochigazprombank LLC (later renamed into Bank ZENIT Sochi). OJSC Spiritbank (the city of Tula) joined the Group in December 2008. According to the consolidated financial statement of the Banking group for 1H2008, made in accordance with IFRS, equity capital of the Banking group amounts to $832 mn, assets amount to $7,777 bn. The Group provides a full-scale range of banking services in the following areas: comprehensive services to the corporate clients, retail services, private banking, investment banking and interbank business. Banking Group ZENIT is represented in 23 of 83 regions of the Russian Federation; its own retail network consists of 164 points of sale. The Group has created a wide international correspondent network of banking partners, with co-operation from more than 80 international institutions in Europe, America and Asia. Bank ZENIT is currently rated Bа3/Negative by Moody's and B+/Negative by Fitch.
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