PSB Makes Regular Coupon Payment
OREANDA-NEWS. July 16, 2010. Promsvyazbank has made a regular coupon payment in the amount of USD 8 062 500 under the USD 150 million 10.75 % Senior Loan Participation Notes (LPN) due 2013, reported the press-centre of PSB.
The Notes were issued by PSB Finance SA, a special purpose vehicle incorporated under the laws of Luxemburg, on 15 July 2008.
OJSC Promsvyazbank, founded in 1995, is one of the leading privately-owned Russian banks, with total assets of RUB 471.2 bn, and total capital of RUB 53.4 bn under IFRS as of 1 April 2010. Holding company Promsvyaz Capital B. V. owns 72.93% of the Bank, Commerzbank Auslandsbanken Holding AG, a subsidiary of the second-largest German bank Commerzbank AG, has a 15.32% stake, and the European Bank for Reconstruction and Development owns the remaining 11.75%.
PSB has the following international credit ratings: “Ba2” from Moody’s Investors Service and“B+” from Fitch Ratings. As at 1 July 2010, PSB had a network of about 250 points of sale in Russia (after the accession of two banks), including 48 branches, a foreign branch in Cyprus, and representative offices in China, India and Ukraine. Upon completion of accession to OJSC Promsvyazbank of OJSC Volgoprombank and OJSC Nizhny Novgorod in May 2010, the Promsvyazbank Banking Group comprises OJSC Promsvyazbank itself as the parent credit institution and OJSC Yarsotsbank.