Home Credit receives bids totalling $300m for Russian bonds

Home Credit, one of Europe’s leading retail lenders, has pulled off a highly successful securities project in Russia, {{{*}}} with a total of 9.4bn rubles ($300m) offered for bonds issued by its Russian subsidiary – more than three times their total par value.

Sberbank CIB, the investment banking arm of Russia’s biggest lender Sberbank, Raiffeisenbank and Moscow-based Alfa-Bank organised the placement of the 3bn-ruble lot of BO-02 bonds issued by Moscow-based Home Credit and Finance Bank, Sberbank CIS said in a statement.

Switzerland’s EFG Asset Management, US-headquartered global market intelligence provider RONIN, Russian Agricultural Bank and Russia’s Promsvyazbank helped bring about the project.

More than 50 investor bids came in, with 36 of them accepted by Home Credit and Finance.

Home Credit and Finance is one of Russia’s leading universal retail banks with 24.3m clients to whom it offers a wide range of loan products. Loan agreements can be signed at 64,500 retail points throughout the country. As of September 30, 2012, the lender had 5,963 branches nationwide.

Parent group Home Credit focuses on Central and Eastern Europe, Russia and the CIS. It also launched business in China and Vietnam in 2004 and established its presence in India in 2012 and Indonesia in 2013. Though headquartered in Amsterdam, it chiefly runs its operations from Prague.

(Visited 26 times, 1 visits today)

Sorry, comments are closed for this post.