17 Jul 2012 17:24

Renaissance Capital Bank to offer 4 bln rubles in bonds

MOSCOW. July 17 (Interfax) - Bank renaissance Capital will take bids for 4 billion rubles in second-series commercial papers in the form of exchange bonds between 10:00 a.m. on July 18 and 5:00 p.m. on July 24, the bank said.

Placement of the three-year bonds takes place on the MICEX exchange on July 26.

The bank marketed the bonds in April and planned to sell them in Q2. Guidance for the first coupon was 12.25-12.75%, corresponding to yield of 12.63-13.16% to offer in two years.

The bank was Russia's 69th largest by assets, according to the Interfax-100 ranking at the end of Q1 2012.