Russia's HCFB plans $250 million new issue, note exchange

By Aaron Hochman-Zimmerman

New York, July 22 - Home Credit & Finance Bank plans to offer at least $250 million three-year loan participation notes, expected at par, according to a market source.

ABN Amro, Calyon and ING will act as bookrunners for the Regulation S deal.

The notes will be putable in August, 2010.

Also, the bank plans to offer an exchange to holders of its 9½% notes due April 2010 issued through Eurasia Capital SA.

The base exchange offers a one-for-one exchange with a yield pick up of 2% to 2½%.

The special exchange, for investors buying the new bonds, offers a one-for-one exchange with a yield pick up of 2¾% to 3¼% for half of the amount of current holding.

HCFB is a Moscow-based lender.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.