OREANDA-NEWS. March 07, 2012. Rusfinance Bank is pleased to announce that the order book for its offering of series BO-02 bonds was closed on March 2, 2012. The bonds have a nominal of 4 bln RUB and a put option 1.5 years from the date of placement.

In the course of book building, 46 investor orders were placed with an annual coupon rate ranging from 8.50% to 9%. Total demand equalled 8 bln RUB.

After completing book building, Rusfinance Bank set the coupon rate at 8.75% annually. Given the market situation, cost of placement, coupon rate, and demand, Rusfinance Bank decided to accept 39 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.

In the words of Arnaud Leclair, Chairman of the Management Board of Rusfinance Bank, the first issue in 2012 was successful and demonstrated market participants’ interest in Rusfinance Bank’s bonds and the high level of trust in the Issuer and its credit quality. “This is firm proof that we have been able to attract a wide range of investors, including banks and major investment and asset management companies,” stated Leclair.

Settlements under the deal will take place upon bond placement on the MICEX stock exchange on March 6, 2012.

The placement was organised by ROSBANK and Troika Dialog.