On September 27, 2010, Bank Saint Petersburg placed commercial paper series BO-02 issuance for RUB 5 bn on MICEX. Based upon the book building results, the Bank decided to set the coupon rate on the bonds at 7.50% per annum. The issue terms imply a 1.5-year put option.
Over the course of book building, 64 orders were submitted with coupon rates ranging between 7.25% and 8.00% per annum while overall demand amounted to RUB 11,181 million. Given the market situation, cost of placement, coupon rates on the bonds and existing demand, Bank Saint Petersburg has decided to satisfy 55 investor orders.
Proceeds from the issuance will be used to finance lending to real-sector businesses, as well as to bolster the Bank’s consumer lending and ongoing operations.
Lead Arrangers: VTB Capital, Troika Dialog
Co-Underwriters: Petrocommerz, Promsvyazbank, Zenit, BK Region, IK “Center Capital”, Nomos-Bank, Novikombank, Acian-Pacific Bank, Baltinvestbank, Pervobank, RON Invest