OREANDA-NEWS. December 15, 2010. The order book was closed for OJSC Bank Saint Petersburg commercial paper series BO-04 with nominal value of three billion rubles and a put option two years from the date of sale commencement.

Over the course of book building, investors submitted 19 bids with coupon rates ranging between 8.00% and 8.70% annually. Overall demand during book building amounted to 3,350 mln rubles. Based on these results, OJSC Bank Saint Petersburg set the coupon rate on the notes at 8.50% annually. Proceeds from the sale will be put toward realizing the Bank’s lending programs for real sector businesses, developing consumer lending and financing daily operations.

Settlements under the deal will take place upon bond placement on MICEX on December 16, 2010.

Organizers of the loan: VTB Capital, Troika Dialog.

OJSC Bank Saint Petersburg is one of Russia’s largest regional banks. The bank’s operations are located in Saint Petersburg and Leningradskaya region, Moscow, Kaliningrad and Nizhny Novgorod. The bank is a consistent leader in all key banking service markets – lending, securities operations, plastic cards, cashier settlements services, the FX market, markets of individuals‘ and legal entities’ resources and inter-bank lending. Thanks to a competently selected strategy, consistent financial policy and a commitment to civilized business practices, the bank for many years has enjoyed the reputation of a strong and reliable partner.

Rating agency Moody’s Investor Service has assigned Bank Saint Petersburg long-term deposit and unsecured debt rating Ba3, financial stability rating D-, and short-term rating Not Prime. The outlook on all ratings is Stable. The bank regularly receives high marks in ratings by media outlets and information-rating agencies.