Home Credit gets tenders for $214 million of Eurasia’s notes due 2020

By Susanna Moon

Chicago, May 1 – Home Credit & Finance Bank Ltd. Liability Co. said investors had tendered $214,007,000 of the $500 million callable loan participation notes due 2020 issued by Eurasia Capital SA.

After settlement on May 6, there will be $270,622,000 principal amount of the notes held by the Borrower, according to a company notice.

The tender offer ended at 11 a.m. ET on April 30. The offer began on April 20.

As previously announced, the purchase price was 95% of par plus accrued interest.

The company previously said it sought to optimize its liability portfolio and cut the cost of its debt by reducing its debt.

The notes were issued for the purpose of financing a subordinated loan to Home Credit, or the borrower. The borrower holds about 11.32% of the principal amount of the notes outstanding, or $56,615,000 principal amount, which will be excluded from the offer.

HSBC Bank plc (+44 0 20 7992 6237, liability management group, liability.management@hsbcib.com) and PPF banka (+420 224 175 836, sales@ppfbanka.cz) are the dealer managers.

Deutsche Bank AG, London Branch (+44 0 20 7547 5000, fax +44 0 20 7547 6149/5001 or xchange.offer@db.com) is the tender agent.

Eurasia Capital is a Luxembourg-based special-purpose vehicle created to fund loans to Moscow-based Home Credit and Finance Bank Ltd.

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