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Otkritie Bank to collect bids for 10 bln rbl bonds Wed

March 20, 2017 - Prime

 

Russia’s Otkritie Financial Corporation (FC) Bank plans to collect bids for 10 billion ruble 6-year exchange bonds on Wednesday, a banking source told PRIME on Monday.

The guidance for the first coupon rate is set at 10.3–10.5% annually, which corresponds to a 10.56–10.77% annual yield to a 3-year buyback offer. The issue carries semiannual coupons.

The technical placement is preliminary scheduled for Friday. The bank acts as the organizer.

The securities will be offered under a 100 billion ruble exchange bond program, registered in March 2015.

The bank now has eight issues of exchange and classic bonds totaling 57 billion rubles in circulation.
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Issuer, issue numberOtkritie Bank, BO-P03
Type of debt instrumentDomestic bonds
Issue statusoutstanding
Type of placementPublic
Par, currency of issueRUB 1,000
Amount10,000,000,000
Registration date03/14/2017
State registration number4B020302209B001P
ISINRU000A0JXLR8
Start of placement03/24/2017
End of placement03/24/2017
Date of circulation start03/24/2017
Initial issue price100
Yield at pricing10.35
CouponCoupons 1-6: 10.1%, coupons 7-12 - set by the issuer
Coupon frequency2 time(s) per year
Settlement date03/24/2017
Maturity date04/10/2023
Issue ManagersBookrunner: Otkritie Bank
Trading floorMoscow Exchange, RU000A0JXLR8 (First level, 03/24/2017)
Cbonds page: Otkritie Bank
Outstanding issues:
10 issuesRUB72,200,000,000
6 issuesUSD2,000,000,000
Issuer rating:
ACRABBB-(RU)/DevelopingACRA national rating scale for the Russian Federation09/06/2017
Moody's Investors ServiceB2/DevelopingLT- foreign currency09/05/2017
Moody's Investors ServiceB2/DevelopingLT- local currency09/05/2017
S&P Global RatingsB+/Foreign Currency LT08/31/2017
S&P Global RatingsB+/Local Currency LT08/31/2017
S&P Global RatingsNR/LT National Scale (Russia)06/02/2017
Fitch RatingsWithdrawn/LT Int. Scale (foreign curr.)06/25/2014
Fitch RatingsWithdrawn/National Scale (Russia)06/25/2014
Fitch RatingsWithdrawn/LT Int. Scale (local curr.)06/25/2014
Moody's Interfax Rating AgencyWithdrawn/National Scale (Russia)03/18/2016
RusRatingWithdrawn/International scale10/20/2016
RusRatingWithdrawn/National scale (Russia)10/20/2016
National Rating AgencyAAA/StableNational scale (Russia)05/31/2016
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