RONIN, an investment company of RONIN Partners Group of companies, acted as underwriter for VTB...
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RONIN acts as a co-arranger of a bonded loan for Bank ZENITHRONIN Investment Company has become a co-arranger of 3-year bonds issue by Bank ZENITH, series - BО-04, amount – RUR 3 billion. On February 3, 2012, Bank ZENITH OJSC closed the book of offers to buy its bonds that included 60 offers with the first coupon rate in the range of 8.85%-9.2% per annum. At the same time the total demand for the Bank ZENITH bonds exceeded the offer three times reaching RUR 9 billion.
The initial rate range was announced at 9-9.2%, however the coupon rate was decreased to 8.9-9% during the placement, the bank press service informs. As a result, the first coupon rate for the bonds was fixed at 8.9% per annum. The second coupon rate is equal to the first coupon rate. The effective yield of the bonds to the yearly offer made up 9.1% per annum.
The technical placement through open subscription on the MICEX Stock Exchange took place on February 7, 2012.
The funds raised from this placement will be directed to bank’s customer lending and invest project financing.
The bank itself acted as the issue arranger. Other co-arrangers included Russian Standard Bank, BK REGION, Viatka Bank JSCB, VELES Capital Investment Company, CREDIT BANK OF MOSCOW, NOVIKOMBANK, NOMOS BANK and Rosselkhozbank.
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