On October 24, 2012, Bank Saint Petersburg placed 6-year USD 101 mln subordinated eurobonds. The coupon rate on the bonds was set at 11% per annum.
Over the course of book building, more than 40 orders were submitted. Given the market situation, cost of placement, coupon rates on the bonds and existing demand, Bank Saint Petersburg has decided to satisfy USD 101 mln of investor orders.
The issue was arranged by BNP Paribas and UBS Limited.
Proceeds from the issuance will be used to strengthen the capital position of the Bank and to bolster lending to SME and medium-sized corporates, as well as retail lending.