Fitch rates Locko-bank bond B+

Fitch Ratings said it assigned a final long-term rating of B+ to Locko-bank's RUB 3 billion bond issue BO-3 due Aug. 11, 2015, along with a national long-term rating of A-(rus) with a recovery rating of RR4.

First and second coupons were priced at 10¾%. The bonds have a put option after one year.

The bank's obligations under the notes will rank equally with the claims on existing senior unsecured debt. The proceeds will be used to fund its core business, Fitch said.

© 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.