10 Mar 2010 15:43

Renaissance Credit appoints Cit and RenCap as organizers of roadshow in Asia and Europe

MOSCOW. March 10 (Interfax) - Commercial Bank Renaissance Capital, which operates under the Renaissance Credit brand, has appointed Citi and Renaissance Capital as the organizers of a roadshow in Asia and Europe slated for next week for placement of instruments with fixed yield, a source on the financial market told Interfax.

In June of this year, Renaissance's $300 million Eurobond issue, placed in June 2007, will reach maturity. Citi and Renaissance Capital also were the organizers of this transaction.

The bank currently has its second and third series bond issues in circulation worth a combined 7 billion rubles. In June 2010, the third issue will have an offer for preterm buyback of up to 4 billion rubles. The preterm buyback for up to 3 billion rubles on the second issue will be offered in October.

Renaissance Credit is part of the Renaissance Group. At the end of 2009, the bank was 80th biggest Russian bank by assets according to the Interfax-100, compiled by the Interfax Center for Economic Analysis (CEA).