Sovcombank arranges offering of HCF Bank's exchange-traded bonds worth RUB 4 billion

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AK&M 10 June 2021 23:48

Sovcombank has lead managed the offering of exchange-traded bonds BO-04 issued by HCF Bank LLC with a total face value of RUB 4 billion, the bank informed.

The face value of the bonds is RUB 1,000. The bonds were placed at 100% of the face value. The coupon period is 91 days. The bonds have a tenor of 5 years. The issue was assigned identification number 4B020400316B.

The final price guidance for coupon 1 was set at 8% p.a., which translates into an effective yield of 8.24%.

Sovcombank is a universal bank with RUB 1.6 trillion in assets according to IFRS. The bank is on the list of systemically important credit institutions of the Bank of Russia. The bank serves 8.3 million individuals, including 7.6 million borrowers and more than 500,000 depositors.

Home Credit and Finance Bank LLC (HCF Bank, tax number: 7735057951) started operation in 2002 acquiring 98% of shares of the bank Tekhnopolis established in 1990. The bank is beneficially owned by PPF Group (Czech Republic) investing in banking, finance, and telecommunications.