Otkritie Bank to collect bids for 10 bln rbl bonds Wed

March 20, 2017 - Prime


Russia’s Otkritie Financial Corporation (FC) Bank plans to collect bids for 10 billion ruble 6-year exchange bonds on Wednesday, a banking source told PRIME on Monday.

The guidance for the first coupon rate is set at 10.3–10.5% annually, which corresponds to a 10.56–10.77% annual yield to a 3-year buyback offer. The issue carries semiannual coupons.

The technical placement is preliminary scheduled for Friday. The bank acts as the organizer.

The securities will be offered under a 100 billion ruble exchange bond program, registered in March 2015.

The bank now has eight issues of exchange and classic bonds totaling 57 billion rubles in circulation.
Issuer, issue numberOtkritie Bank, BO-P03
Type of debt instrumentDomestic bonds
Issue statusoutstanding
Type of placementPublic
Par, currency of issueRUR 1,000
Registration date03/14/2017
State registration number4B020302209B001P
Start of placement03/24/2017
End of placement03/24/2017
Date of circulation start03/24/2017
Initial issue price100
Yield at pricing10.35
CouponCoupons 1-6: 10.1%, coupons 7-12 - set by the issuer
Coupon frequency2 time(s) per year
Settlement date03/24/2017
Maturity date04/10/2023
Issue ManagersBookrunner: Otkritie Bank
Trading floorMoscow Exchange, RU000A0JXLR8 (First level, 03/24/2017)
Cbonds page: Otkritie Bank
Outstanding issues:
10 issuesRUR77,100,000,000
6 issuesUSD2,000,000,000
Issuer rating:
Moody's Investors ServiceBa3/NegativeLT- foreign currency06/17/2015
Moody's Investors ServiceBa3/NegativeLT- local currency06/17/2015
S&P Global RatingsBB-/Foreign Currency LT12/21/2016
S&P Global RatingsBB-/Local Currency LT12/21/2016
S&P Global RatingsruAA-/LT National Scale (Russia)12/21/2016
Fitch RatingsWithdrawn/LT Int. Scale (foreign curr.)06/25/2014
Fitch RatingsWithdrawn/National Scale (Russia)06/25/2014
Fitch RatingsWithdrawn/LT Int. Scale (local curr.)06/25/2014
Moody's Interfax Rating AgencyWithdrawn/National Scale (Russia)03/18/2016
RusRatingWithdrawn/International scale10/20/2016
RusRatingWithdrawn/National scale (Russia)10/20/2016
National Rating AgencyAAA/StableNational scale (Russia)05/31/2016