«AK BARS» Bank successfully issues ruble bonds

25.03.2013

On March 20, 2013 «AK BARS» Bank issued 5 bln. ruble bonds. Allocation took place at Moscow Interbank Currency Exchange (MICEX).

Bookbuilding resulted in 57 orders to the amount of 12 bln. rub. with coupon rate ranging between 9.0 and 9.6% p.a.

High demand on the part of investors exceeding arrangers’ expectations, allowed to bring down the range of coupon rate with its subsequent shrinkage.

In the course of book-building, the Issuer fixed the first coupon rate at the level of 9.2% p.a. The second coupon equals first coupon. One-year put option is provided within the issue.

Total demand with coupon rate of 9.2% p.a. exceeded supply more than twofold. In conditions of market volatility, the issue outcome proved «AK BARS» Bank’s reputation as a reliable borrower among investors.

This allowed for a diversified allocation. Investors syndicate is represented by banks, trust, investment and insurance companies. Along with «AK BARS» Bank and BC «Region» acting as the issue arrangers, investors’ syndicate include following members.

Underwriters list:

Commercial medical bank «Avers», Veles Capital IC, M2M Private Bank, AIKB «Tatfondbank», Ronin LLC, SKB-Bank, Financial company «Megatrustoil».

Co-underwriters list: Bank Saint Petersburg, Orient Express Bank, MDM Bank, Commercial Bank «Energotransbank», Commercial Bank «International Bank of Development», Russobank, Commercial Bank Hlynov, Moscow Securities Center, BrokerCreditService Ltd.

«AK BARS» Bank acted singly as a technical underwriter.

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