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Russian Standard extends tender offer for RMB 1.17 billion 8% notes
By Susanna Moon
Chicago, Oct. 7 - Russian Standard Bank said it extended the tender offer for the RMB 1,173,600,000 of outstanding RMB 1.25 billion 8% loan participation notes due February 2015 issued by Russian Standard Finance SA.
In order to participate, holders must now tender their notes by 11 a.m. ET on Oct. 8, according to a company press release.
The tender offer was extended from 11 a.m. ET on Oct. 4. The offer began on Sept. 24.
As previously announced, the Moscow-based lender will pay par of RMB 100,000 plus accrued interest.
Russian Standard previously said it is offering to purchase the notes as part of its ongoing funding management strategy in order to optimize its liquidity level.
Notes must be tendered in a minimum principal amount of at least RMB 1 million and in integral multiples of RMB 100,000 after that.
Settlement will occur on Oct. 11.
The dealer manager is HSBC Bank plc (+44 20 7992 6237, attn: liability management group, e-mail liability.management@hsbcib.com). The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880, attn: Paul Kamminga / Yves Theis, or e-mail rsb@lucid-is.com).
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