By Colin Hanner
Chicago, April 27 – Credit Bank of Moscow priced $700 million of perpetual bonds at par on Wednesday, the company said.
The yield will be 8 7/8% for the first five years, then step up to the five-year dollar swap rate plus 694.2 basis points until maturity.
Initial price guidance was in the 9% to 9¼% area, a market source said.
The bonds, which will be issued through CBOM Finance plc, are non-callable for 5.5 years, the company said.
Societe Generale CIB, JPMorgan, Citigroup, HSBC, RBI Group, BK Region and Credit Suisse were bookrunners for the deal.
The bank is a medium-sized universal bank operating in Moscow and the Moscow region.
| Issuer: | CBOM Finance plc
|
| Description: | Bonds
|
| Amount: | $700 million
|
| Maturity: | Perpetual
|
| Bookrunners: | Societe Generale CIB, JPMorgan, Citigroup, HSBC, RBI Group, BK Region and Credit Suisse
|
| Coupon: | 8 7/8% for first five years, then five-year dollar swap rate plus 694.2 basis points until maturity
|
| Price: | 100
|
| Call option: | Non-callable for 5.5 years
|
| Trade date: | April 26
|
| Settlement date: | May 10
|
| Marketing: | Roadshow
|
| Price talk: | 8 7/8%, tightened from 9% to 9¼%
|
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