$500 Eurobond of Home Credit and Finance Bank more than 2 times oversubscribed
Home Credit and Finance Bank has priced a $500 Eurobond, the bank said in a statement. The order book exceeded $1.2bn with over 120 investors placing orders, including international financial and retail institutions, private banks and pension funds. The coupon rate was set at 7%. The geographic breakdown was as follows: accounts from Europe took 49% of the issue, investors from Russia took 25%, investors from the UK took 14%, investors from Asia took 10%, and 2% was bought by investors from other countries. The proceeds will be used for refinancing purposes and for expanding the bank’s business in Russia. The issue matures in 3 years. It is due March 18, 2014. Eurasia Capital Limited acted as the formal issuer on the transaction. Citi and Credit Agricole CIB acted as bookrunners on the transaction while Gazprombank and PPF Banka were co-arrangers on the deal.
Issuer, issue number: HCFB, 2014 (LPN)
Type of debt instrument: Eurobonds
Issue status: outstanding
Par, currency of issue: USD, 150000
Amount: 500 000 000
ISIN: XS0606382413
End of placement: Mar 11 2011
Issue price: 100
Yield at Pricing: 7%
Coupon: 7.00%
Coupon frequency: 2 time(s) per year
Settlement Date: Mar 18 2011
Maturity date: Mar 18 2014
Issue Managers: Bookrunners - Citigroup, Credit Agricole CIB
Co-managers - Gazprombank, PPF Banka
Cbonds pages:
Issuer profile:
Home Credit & Finance Bank (Moody’s Ba3/NP/D-, S&P B+/B) is one of the largest Russian retail banks with leading positions in certain segments of the consumer lending market, namely an almost 28% market share in the point-of-sale market and 8.5% market share of the credit card market as at 31 December 2009. HCFB offers its clients a wide range of retail banking products and services. HCFB’s products are offered through its well-developed distribution network comprising 32,770 POS outlets across over 1,200 cities throughout Russia. The Bank’s regional network comprised 82 representative offices, 181 banking offices and 6 branches across the Russian Federation as at 31 December 2009. Home Credit Group (“Group”) is one of the leading providers of consumer finance and increasingly retail banking in Central and Eastern Europe and Asia with 14,200 employees serving more than 5.7 million active customers. Financial services have been provided under Home Credit brand in 8 countries (as of 31 December 2009): Czech Republic (since 1997), Slovakia (since 1999), Russian Federation (since 2002), Kazakhstan (since 2005), Ukraine (since 2006), Belarus (since 2007), China (since 2007) and Vietnam (since 2009). More information available at
Home Credit Group. Home Credit Group is part of PPF Group, one of the largest international financial groups in the Central and Eastern European region. Assets managed by PPF Group exceeded EUR 10 billion as of 30 June 2009. PPF Group focuses on financial services (banking and consumer finance, insurance and pensions), private equity investments, and investments in real property. PPF Group actively seeks investment opportunities in the emerging markets of Central and Eastern Europe, Russia, Commonwealth of Independent States, and the Far East. More information available at
Skupina PPF.
Outstanding issues:
4 issue(s) outstanding worth RUR 17 000 000 000
3 issue(s) outstanding worth USD 1 450 000 000
Issuer's rating:
Moody's Investors Service Ba3/Stable Int. Scale (foreign curr) 22.11.2010
Moody's Investors Service Ba3/Stable Int. Scale (loc. curr.) 22.11.2010
Standard & Poor's B+/Stable Int. Scale (foreign curr.) 08.03.2011
Standard & Poor's B+/Stable Int. Scale (loc. curr.) 08.03.2011
Moody's Interfax Rating Agency Aa3.ru National Scale (Russia) 22.11.2010
National Rating Agency A- National scale (Russia) 01.07.2007
