SDM-Bank Successfully Completes Series 01 Bonds Early Redemption Offer
SDM-Bank has successfully completed an early redemption offer for Series 01 Bonds. Only 9.3% of outstanding bond paper has been tendered by investors for early redemption.
SDM-Bank's management is reassured by the low take up of the redemption offer and bondholder's continued confidence in the bank's performance.
SDM-Bank made an offer of early redemption of up to 500 000 SDM-BANK series 01 bonds at 100% of face value. Tender/Redemption period ran from 9 am on December 23rd to 12 pm on December 25th.
SDM-Bank acted as a broker for the redemption exercise.
Only 139,621 bonds with RUB 1,000 face value have been put for redemption under this offer, which constitutes about 9.3% of entire SDM-01 bond issue.
The results of the redemption exercise demonstrates investor confidence in JSC SDM-BANK credit quality and its standing as an issuer.
SDM-Bank initial RUB 1.5 bln series 01 bond issue was placed on March 1, 2013 for 3 years.
Fitch Ratings rates SDM-Bank debut bond issue «B+» with Stable outlook.
For further information please contact Anna Kolokoltseva, Director of International Business dpt.: +7 (495) 490 4571; email@example.com