Globex bank opens BO-02 exchange-bond bid book
MOSCOW. July 8 (Interfax) - The bank Globex opens the bid book Thursday for its 5 billion-ruble issue of BO-02 exchange bonds, the bank said.
Investor bids will be accepted from 12:00 p.m. (Moscow time) on July 8 to 4 p.m. on July 20. Coupon rate guidance is 7.75%-8.25% pa, but the bank wants to place at no more than 8%, a source in financial sources told Interfax. The three-year issue comes with an 18-month offer.
The preliminary open-subscription MICEX placement date was July 22. The placement was earlier reported to be slated for the first half of this year.
At the end of last year, MICEX management decided to accept for trading 10 billion rubles in Globex BO-01 and BO-02 bonds without the process of listing. The bank placed 5 billion rubles in the former series at a coupon rate of 9.8% pa in February (yield guidance was 9.75%-10%).
Globex was acquired by Vnesheconombank (VEB) in late 2008 for a symbolic purchase price in the context of measures being taken to stabilize Russia's banking sector. The Central Bank lent its support in the form of a $2 billion deposit with VEB.
The VEB group also includes Roseximbank, Russian Development Bank, and Sviaz-Bank .
Globex ended Q1 in 45th place by assets on the Interfax-100 ranking of Russia's biggest banks.