Tinkoff Bank cuts 5 bln rbl bond guidance to 9.65-9.75%

April 21, 2017 - Prime


Russian Tinkoff Bank has lowered the first coupon guidance for 5 billion ruble exchange bonds to 9.65-9.75% annually, a banking source told PRIME on Friday.

The new coupon guidance corresponds to a 9.88-9.99% annual yield to a 2-year buyback offer.

The issue carries semiannual coupons. The technical placement is scheduled for April 28.

Sberbank CIB and Sovcombank act as the placement’s organizers.
Issuer, issue numberTinkoff Bank, 001P-01R
Type of debt instrumentDomestic bonds
Issue statusoutstanding
Type of placementPublic
Par, currency of issueRUR 1,000
Registration date04/26/2017
State registration number4B020102673B001P
Start of placement04/28/2017
End of placement04/28/2017
Date of circulation start04/28/2017
Initial issue price100
Yield at pricing9.88
CouponCoupons 1-4: 9.65%, coupons 5-10 - set by the issuer
Coupon frequency2 time(s) per year
Settlement date04/28/2017
Maturity date04/22/2022
Issue ManagersBookrunner: Sberbank CIB, Sovcombank, Russian Agricultural Bank Bondholders Representative: Region Finance Joint Book-Running Manager: RosEvroBank
Trading floorMoscow Exchange, RU000A0JXQ85 (Second level, 04/28/2017)
Cbonds page: Tinkoff Bank
Issuer profile:
Tinkoff Credit Systems is a bank specializing in consumer lending. The bank operates in all Russian regions.
Outstanding issues:
2 issuesRUR10,000,000,000
1 issuesUSD200,000,000
Issuer rating:
ACRAA(RU)/StableACRA national rating scale for the Russian Federation05/19/2017
Moody's Investors ServiceB1/StableLT- foreign currency02/22/2017
Moody's Investors ServiceB1/StableLT- local currency02/22/2017
Fitch RatingsBB-/StableLT Int. Scale (foreign curr.)11/11/2016
Fitch RatingsWithdrawn/National Scale (Russia)02/06/2017
Fitch RatingsBB-/StableLT Int. Scale (local curr.)11/11/2016
Moody's Interfax Rating AgencyWithdrawn/National Scale (Russia)03/18/2016
Rating Agency RAEX (Expert RA)Withdrawn/National Scale (Russia)04/26/2011