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LenSpetsSMU completes the placement of Series 02 bonds with a nominal value of RUR 5 billion

On December 18, 2012 the CJSC SSMO LenSpetsSMU series 02 bonds were successfully placed. Investors were offered bonds with a total nominal value of RUR 5 billion, with a 5-year tenor and no put option. The bonds carry quarterly coupons. The bonds will be amortized from the 12th coupon. The issue has a duration of 3.2 years.

The organizers of the issue were Alfa-Bank, OJSC PSB and Raiffeisenbank.

The order book was closed on December 14, 2012. During the book building investors filed 37 applications, the aggregate demand exceeded supply and reached about RUR 6.65 billion. As a result of the marketing the coupon bond was set at 12.90% per annum.

This was the first example for 1.5 years of a placement by a category B rated issuer with a five-year maturity with no intermediate put options, which demonstrates the investor interest in CJSC SSMO LenSpetsSMU and the high credit quality of the issuer.

The CEO of the Etalon Management Company Anton Evdokimov said: «The placement of the series 02 bonds was a landmark deal for us. The Russian construction company has never offered debt securities with a duration of more than 3 years. We are all the more pleased about the healthy demand for our bonds. In order to accept the applications the organizers had to reduce the allocation for all accounts over RUR 15 million. We would once again like to thank the organizers and all the investors who have trusted their money to our company.»

Earlier, on November 22, 2012, the rating agency Standard & Poor’s assigned a rating to the series 02 bond issue (B / ruA). Thus, the issue meets all the formal requirements of the Central Bank to be included in the Lombard list of the CBR.

ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank ranks 11th among the Russian banks in terms of assets, based on Q3 2012 results (Interfax-CEA). According to the same Interfax-CEA data, ZAO Raiffeisenbank ranked 5th in terms of liabilities of individuals and 10th with regard to consumer lending.

Raiffeisen Bank International AG (RBI) regards both Austria, where it is a leading corporate and investment bank, and Central and Eastern Europe (CEE) as its home market. In CEE, RBI operates an extensive network of subsidiary banks, leasing companies and a range of other specialised financial service providers in 17 markets. RBI is the only Austrian bank with a presence in both the world’s financial centres and in Asia, the group’s further geographical area of focus. In total, around 61,000 employees service about 14.1 million customers through around 3,100 business outlets, the great majority of which are located in CEE. Raiffeisen Bank International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Oesterreich AG (RZB). RZB indirectly owns around 78.5 per cent of the common stock, the remainder is in free float. RBI’s shares are listed on the Vienna Stock Exchange. RZB is the central institution of the Austrian Raiffeisen Banking Group, the country’s largest banking group, and serves as the group head office of the entire RZB Group, including RBI.


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