OREANDA-NEWS. June 20, 2011. Joint Stock Company Commercial Bank “Center-Invest” closed the order book on its series BO-01 and series BO-05 commercial paper issue with total nominal value of R2.5 bln, maturity three years (1092 days) from the date of sale commencement, and a put option in 1.5 years. Center-Invest plans to put the proceeds from the sale towards realization of its Strategy for the modernization of small and midsized businesses in Russia’s South and providing loans to individuals.

Over the course of book building, investors submitted 45 bids, with coupon rates ranging from 8.00% to 9.00% annually. Overall demand totaled R4.4 bln.

Following the completion of book building, JSC CB “Center-Invest” set the coupon rate on the series BO-01 and series BO-05 commercial paper at 8.40% annually. Given the market situation, cost of placement, coupon rate on the paper and existing demand, JSC CB “Center-Invest” decided to satisfy 40 investor bids.

Settlements under the deal will take place upon placement of the paper on the MICEX on June 21, 2011.

The organizer of the sale is Troika Dialog.