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Fitch Assigns Probusinessbank's Series 7 Bond 'B-' Long-Term Rating

November 1, 2012 Fitch Ratings
Fitch Ratings-Moscow/London-01 November 2012: Fitch Ratings has assigned Probusinessbank's (PBB, 'B-'/Stable) series 7 RUB2bn senior unsecured bonds, due in September 2015, a Long-term local currency rating of 'B-', a Recovery Rating of 'RR4' and a National Long-term Rating of 'BB-(rus)'.
The coupon rate for the first year has been set at 11.75%. The issue has a put option in September 2013. PBB's obligations under the notes will rank equally with the claims on existing senior unsecured debt. The proceeds will be used to fund PBB's core business.
PBB is a mid-sized bank with consolidated assets of RUB153bn at end-H112. The bank focuses on SME and retail lending.
  • Status
    redemption default
  • Country of risk
    Russia
  • Redemption (put/call option)
    *** (***)
  • Amount
    2,000,000,000 RUB
  • М/S&P/F
    — / — / —
Company — Probusinessbank
  • Full name
    Probusinessbank
  • Registration country
    Russia
  • Industry
    Banks