Bank Saint Petersburg placing $100-mln in 6-yr subordinated notes at 11% - source
MOSCOW. Oct 17 (Interfax) - Bank Saint Petersburg is placing $100 million in six-year subordinated bonds at 11% pa, a financial market source told Interfax.
It was earlier reported that the total issue might come between $50 million and $150 million. The yield guidance was around 11%.
BNP Paribas and UBS Investment Bank are the organizers.
Bank Saint Petersburg's capital adequacy ratio, according to Basel requirements, decreased from 13.92% to 12.86% in the first half, including first tier capital from 10.17% to 9.3%.
The bank expanded its loan portfolio, before provision charges, by 5.5% to 244.1 billion rubles in the first half of this year.
The N1 capital adequacy ratio, according to the Central Bank of Russia's requirements, decreased from 11.96% on January 1 to 11.67% on July 1 and 11.47% on September 1, 2012. The minimum H1 level for Russian banks is 10%.
Bank Saint Petersburg was the 15th biggest bank in Russia by assets for the first half of 2012 according to the Interfax-100 ranking, compiled by the Interfax Center for Economic Analysis.
