OREANDA-NEWS. March 16, 2012. On 1 March 2012, 5:00 p.m., Bank Petrocommerce completed the bookbuilding process for its three-year BO-1 commercial paper issue (identification number 4B020101776B assigned on 25 June 2010). The issue was oversubscribed by over four times — the number of offers from potential investors totalled 61.

The first coupon rate was set at 8.90% p.a. The issue terms provide for the second and third coupon rates to equal that of the first coupon. The effective yield to a 1.5-year put option was 9.10% p.a. The public distribution of the BO-1 commercial paper will take place at the MICEX on 6 March 2012. Bank Petrocommerce acts as the technical underwriter for the issue.

"We are grateful to our partners and investors for the interest shown in our commercial paper. The sizable demand from market players evidences a high level of trust to our Bank, a positive sentiment in respect of its performance and prospects", noted Vyacheslav Oreshkin, Vice President of Bank Petrocommerce.

The Bank’s RUR 3 bln three-year BO-1 commercial paper has a 1.5 year put option embedded in the issue terms. The commercial paper has six 182-day coupons.

The arranger of the BO-1 commercial paper issue is Bank Petrocommerce.

Co-arrangers: Asian Pacific Bank, Bank of Settlements and Savings, Russian Standard Bank, BC REGION, Vnesheconombank, Globexbank, IC VELES Capital, NOVIKOMBANK, Promsvyazbank, RONIN, ROSEVROBANK, Rossiysky Capital.

Underwriters: Russian Regional Development Bank, Vostochny Commercial Bank, BKS Company, ROSBANK, Spectr Invest, Expobank.

Co-underwriters: Tatfondbank, BINBANK, Garanti Bank Moscow, MORSKOY BANK, Bank OTKRYTIE, Pervobank, RUBLEV Commercial Bank, SOGAZ, FDB Commercial Bank.

The Bank currently has three outstanding bond issues — 05 series issue (with total par value in the amount of RUR 5 bln), 06 series issue (RUR 3 bln) and 07 issue (RUR 3 bln). All issues are included in the first-level ‘A’ list at the MICEX and are accepted as collateral by the Central Bank of Russia.