11 Aug 2009 19:16

Russia's Petrocommerce Bank to start placing two bond issues for 6 bln rubles on Aug 20

MOSCOW. Aug 11 (Interfax) - Russia's Petrocommerce Bank plans to start placing sixth and seventh-series bond issues for 3 billion rubles each on August 20, the bank said in a statement.

The bonds will mature in three years and have six-month coupon periods.

The bank has called an offer for the early buyback of the sixth-series bonds on the third working day of the third coupon period and for the seventh-series bonds on the third working day of the fourth coupon period.

The Central Bank registered three bond issues by Petrocommerce in late April - a fifth-series issue for 5 billion rubles and the sixth and seventh-series issues for 3 billion rubles each.

At present, the bank has 3 billion rubles in second-series bonds outstanding that mature in late August 2009 as well as 3 billion rubles in fourth-series bonds maturing in July 2011.

Petrocommerce Bank was Russia's 22nd largest bank by assets in the first half of 2009, according to the Interfax-100 ranking of the country's biggest lending institutions, compiled by the Interfax Center for Economic Analysis.