Intesa Bank prices bonds at 9%
MOSCOW. April 6 (Interfax) - Intesa Bank, a subsidiary of Italian group Banca Intesa Sanpaolo, has set the first coupon on its third-series bonds worth 5 billion rubles at 9% pa, the bank said.
Troika Dialog took bids from April 5-6. Placement is due on the MICEX exchange on April 10.
Guidance was lowered to 9%-9.5% from 9.25%-9.75% during the book build. This corresponds to yield of 9.2%-9.73% to offer after 18 months. The bonds mature in three years.
The Central Bank registered the bond issue on January 26.
The bonds have six semi-annual coupons.
At end-November, the MICEX admitted to trading four Intesa three-year exchange-bond series combining to 16 billion rubles. BO-01 and -02 are each of 3 billion rubles, and -03 and -04 of 5 billion rubles each. The bonds are to be placed in open subscription.
The bank redeemed its second series of classic bonds (3.4 billion rubles) at the end of November. It has no other series in circulation at this time.
The merger of Intesa and CMB Bank (also a Banca Intesa Sanpaolo subsidiary) had been completed by January of 2010, and they then took on the former's name.
The Banca Intesa Sanpaolo group is one of the Eurozone's biggest banking groups and tops Italy's banking services market. Intesa was Russia's 56th largest bank by assets at the end of 2011, according to the Interfax-100 ranking.