Russian Standard gets tenders for RMB 311.3 million 8% notes in offer

By Susanna Moon

Chicago, Oct. 9 - Russian Standard Bank said investors tendered of RMB 311.3 million 8% loan participation notes due February 2015 issued by Russian Standard Finance SA.

The bank will accept all tendered notes for purchase on Oct. 15 at par plus accrued interest of RMB 1,358.90 per RMB 100,000 principal amount, according to a press release by the Moscow-based lender.

The tender offer ended at 11 a.m. ET on Oct. 8, extended from 11 a.m. ET on Oct. 4. The offer began on Sept. 24.

The bank offered to purchase RMB 1,173,600,000 of outstanding RMB 1.25 billion 8% loan participation notes.

After settlement, RMB 862.3 million principal amount of the notes will remain outstanding.

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 needed to be tendered in a minimum principal amount of at least RMB 1 million and in integral multiples of RMB 100,000 after that.

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).

© 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.