Ak Bars Bank gets $750m in orders for $500m eurobond

On November 9 Ak Bars Bank closed an order book for a $500m 8.75% eurobond due 2015. Credit Suisse and VTB Capital arranged the issue. Ak Bars Luxembourg S.A. is the issuer. The note issue is part of its $1.5bn LPN programme. Earlier the bank held investor meetings in Europe and Asia. The road show went to Hong Kong, Singapore, Zurich, Geneva and London. The marketing campaign resulted in high demand from European and Asian investors. Investors placed over 100 orders worth over $750m; the issue was priced below yield guidance (8.75%). The proceeds will be used to finance the bank's core business, including lending.

• Status
  redeemed
• Country of risk
  Russia
• Redemption (put/call option)
  *** (***)
• Amount
  500,000,000 USD
• М/S&P/F
  — / — / —

• Full name
  Joint-Stock Commercial Bank "AK BARS" (Public Joint-Stock Company) AK BARS Bank
• Registration country
  Russia
• Industry
  Banks