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Central Bank of Russia puts SDM-Bank bonds on its Lombard List


Listing on CBR Lombard list proves SDM-Bank high issuer accountability, and makes SDM-Bank bonds acceptable as collateral in operations with Central Bank of Russia.

February 27, 2013 SDM-Bank priced and allocated RUB 1.5bn series 01 bond issue.

Nominal value issue size is RUB 1.5 bn. with a 3 year maturity with an initial annual coupon rate of 12.4%. Based on book closing results February 27, 2013, the issuer decided to set the first annual coupon rate of 12.4 %. During the book building exercise the annual interest rate price ranged between 11.9-12.75 %.

Investors generated RUB 2,407.8 mln demand for the RUB 1,500 mln placement.

May 29, 2013 International rating agency Fitch Ratings upgraded SDM-Bank’s national and international currency long term IDR from «B» to «В+», with Stable outlook.

The Fitch noted that SDM's upgrade reflects its extended track record of reasonable asset quality, comfortable liquidity and adequate profitability, the stability to date of its franchise and funding and conservative management.