OREANDA-NEWS. December 28, 2012. Okritie Bank successfully closed its own RUB3bn Series 01 bond issue due in 5 years. The issue was fully placed.

Following the closing of the bid book on 14 December 2012, the issuer decided to set the first coupon interest rate at 10.75%. Investors made their offers in the range of 10.40% to 11.00% for the first coupon rate. The total value of the bids submitted for the bonds amounted to RUB3,957.03mn.

The second coupon interest rate will be the same as the first. Interest rates for further coupons will be set by the issuer in accordance with the issue documents.

The Series 01 bond issue was launched on 19 December in an open subscription through the trading and settlement facilities of the MICEX Stock Exchange CJSC. The National Settlement Depositary CJSC acted as the depositary.

The total volume of the offering was sold in 27 transactions.

This is Otkritie Bank’s first debt issue, and we are quite pleased with the results. The strong interest by investors in our debut issue demonstrates a high level of confidence in Otkritie Bank. The proceeds of the issue will be applied to finance the Bank's core business and diversify its client base. Moreover, the successful completion of the debt programme will allow us to build a positive equity profile in capital markets, says Eugene Dankevich, Chairman of the Management Board of Otrkitie Bank.

Ortkitie Bank OJSC acted as the arranger of the issue. The bond issue syndicate also includes:

Co-Arrangers: Russian Standard Bank CJSC, Credit Bank of Moscow (OJSC)

Underwriters: Vostochny Bank OJSC, Metcombank OJSC (Kamensk-Uralskiy), Home Credit & Finance Bank LLC.

Co-Underwriters: Investment Bank Vesta (LLC), Bank Saint Petersburg OJSC, Pervobank OJSC, SCB Primorie Primsotsbank OJSC.