06-series RUR3.0 bn OJSC Bank ZENIT bond placement allocated in full
Moscow, 07 July, 2009
06-series RUR3.0 bn OJSC Bank ZENIT bond placement took place on 07 July, 2009 (the state registration number 40703255В of 27 November, 2008).
The placement was held at MICEX stock exchange in the form of open subscription at the auction on setting the first coupon rate. 32 investors' applications were filed for the total amount of RUR3.3 bn. The range of the offered first coupon rates made from 14% tо 15.20% p.a. at the auction. The final first coupon rate was fixed at 15% p.a. The second coupon is equal to the first. The effective yield of the bonds to the 1-year put option made 15.57% p.a.
OJSC Bank ZENIT acts as an arranger, underwriter and a payment agent of the issue.
The bond placement syndicate was joined by MBRD, 'NOMOS-BANK' (Open Joint-Stock Company), Joint-stock company "Russ-Bank", OJSC "Promsvyazbank", and Joint stock Company Commercial Bank "Center-invest" as co-organizers.
In compliance with the placement documents, the issue amounts to RUR3.0 bn at par value and matures in 5 years. The bonds bear 10 half-year coupons. The execution of put option on this issue will take place on 08 July, 2010.
OJSC Bank ZENIT 06-series bond issue documents are available at www.zenit.ru.
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 2008, made in accordance with IFRS, equity capital of the Banking group amounts to RUR 16 765 mn, assets amount to RUR 187 317 mn. 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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