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Otkritie Financial Corporation Bank, VTB Capital, Sberbank CIB, and Rosbank Manage Series 35010 Bonds Issued by the Ministry of Finance of Samara Region


On 10 July 2014, a tender to determine the first coupon rate for series 35010 fixed-coupon serial bonds issued by the Samara Region Ministry of Finance (Moody’s Ba1, Standard&Poor’s BB+) worth of RUB 12.0 billion was held.

225 investor bids for RUB 30 billion were submitted. The indicative first coupon rate was set within a range of 10>30% to 10.60% p.a., the yield to maturity being 10.70% to 11.03% p.a.

After holding the tender, the issuer decided to set the first coupon rate at 10.00% p.a. (the yield to maturity being 10.38% p.a.) and accept 110 investor bids.

There will be 28 coupon periods of equal duration; the bonds will mature in 2,548 days (7 years); the loan period will be ~ 2.95 years. Each bond’s nominal value is RUB 1,000.

The issue meets the requirements for its inclusion into the Lombard List of the Bank of Russia.

The issue is managed by Otkritie FC Bank, Sberbank CIB, VTB Capital, and Rosbank.

Placement agent: VTB Capital.

Co-arrangers: Leader Managing Company, Pervobank, Region Brokerage Company, Roninvest, Rossiya, SMP, and Sovcombank.

Underwriters: Absolut Bank, Aton, Gazprombank, Globex Bank, MTS Bank, and Renaissance Capital.

Co-underwriters: Asian-Pacific Bank, BFA, Russian Regional Development Bank, GazBank, Derzhava Bank, CIT Finance, Nordea Bank, and Center-Capital.