OREANDA-NEWS. August 1, 2007. Renaissance Capital и Standard Bank Plc. were bookrunners for the deal that was priced at 10.5% with 2-year maturity. The bonds are issued by LOCKO Finance p.l.c., Ireland and listed on London Stock Exchange.

Twenty seven accounts took part in the deal with asset managers with 48%, banks 34%, hedge funds 12%, private investors and private banks 6%. UK investors allotted 40%, Switzerland 13%, Russia 22%, the Netherlands 9%, Germany 6%, US offshore 10%.

In the opinion of Mr. Mikhail Pavlov, the Deputy Chairman of the Executive Board of LOCKO-Bank, the Eurobond issue was a success despite negative market situation.

Bookrunners comments to Euroweek business magazine:

“It can be difficult for Russian banks to differentiate themselves but investors particularly like the IFC involvement in LOCKO-Bank.

With the initially proposed amount of Rb 2-3 billion the order book reached Rb3.4bn; the orders were all of extremely high quality — we were considering printing a smaller deal but investors were extremely resistant to their orders being cut back. It is to Locko’s credit that the management was sensible about the size and pricing of the issue. Many other borrows have been forced to pull deals, but by being realistic and responsive, Locko finalized the deal”.