Loans.Cbonds : Russian Standard Bank to raise $200-250m syndicated loan in August

03.06.2008 - Prime-Tass

Russian Standard Bank to raise $200-250m syndicated loan in August

Russian Standard Bank intends to raise a syndicated loan amounting to $200-250m in August. The loan will have a one year tenor with a one year extension option, according to Dmitry Levin, the bank’s head of the Board. He noted that the bank had already repaid a major part of its foreign debt, namely a Eurobond issue, and its next big redemption was a syndicated loan maturing in August this year. Dmitry Levin also said that the bank did not plan another Eurobond issue this year as was engaged in a $1bn ECP programme.

Issuer profile: Russian Standard Bank (“RSB”) is a consumer finance bank organised as a closed joint stock company under the laws of the Russian Federation. RSB’s business activities are primarily focused on consumer finance and other retail services, including credit cards services and deposit taking. As an ancillary business, RSB also offers a variety of banking, corporate finance, lending and other services to Russian corporate clients (including payment and account services, cash handling and settlement services).

Outstanding issues:
5 issue(s) outstanding worth RUR 33 500 000 000
5 issue(s) outstanding worth USD 1 650 000 000
6 issue(s) outstanding worth EURO 946 900 000

Issuer's rating:

Moody's	Ba2/Negative	Int. Scale (foreign curr)	10/10/2007
Moody's Interfax Rating Agency	Aa2.ru	National Scale (Russia)	10/10/2007
National Rating Agency	A-	National scale (Russia)	07/01/2007
Rus-Rating	B/Stable	National scale (Russia)	12/21/2006