OREANDA-NEWS. November 13, 2010. OOO RusFinance Bank closed the order book on its series 10 and series 11 bond offering with total nominal value of 4 bln and a put option three years from the date of sale commencement.

Over the course of book building, investors submitted 49 bids with coupon rates ranging between 7,70% and 8,30% annually. Overall demand during book building amounted to 8 334 mln.

After completing book building, LLC Rusfinance Bank set the coupon rate at 7,90% annually. Given the market situation, cost of placement, coupon rates on the bonds and elicited demand levels, LLC Rusfinance Bank has decided to satisfy 33 investor bids. Proceeds from the sale will be used to finance core operations – issuing consumer loans. The bank also plans further development of its core products: auto and consumer lending at sales points, untargeted loans and credit cards.

Arnaud Leclair, LLC Rusfinance Bank Chairman of the Management Board, commenting on the issue “We are very pleased with the success of this second bond issue in 2010, which is evidence of investor’s trust in our activities and products. We also take the opportunity to thank all those who contributed to the success of this transaction, as well as the investors for their confidence in Rusfinance Bank.” Settlements under the deal will take place upon bond placement on MICEX on November 16, 2010, for the series 10 bonds and on November 17, 2010, for the series 11 bonds.

The sale was organized by Rosbank and Troika Dialog.