The Bank placed USD 100 mln subordinated eurobonds

Copies of this announcement are not being made in and may not be distributed or sent into the United States, the United Kingdom, Canada, Australia or Japan or any other jurisdiction where to do so would be unlawful.

On October 22, 2013, Bank Saint Petersburg placed 5.5-year USD 100 mln subordinated eurobonds. The coupon rate on the bonds was set at 10.75% per annum.

The transaction attracted considerable demand from investors new to Bank Saint Petersburg credit. Despite the negative performance of recently placed LT2 deals out of Russia orderbook saw strong support from investors from continental Europe with good understanding of Bank’s market position and story and a good bid from Asset Management and Private banks accounts.

Proceeds from the issuance will be used to strengthen the capital position of the Bank and to bolster retail lending, as well as lending to SME and medium-sized corporates.

The issue was arranged by JPMorgan and VTB Capital.

Tags: IR News