Promsvyazbank makes regular semi-annual coupon payment under US$ 100 mln 12.5% subordinated LPN due 201801.02 | 2010
Promsvyazbank has made a regular semi-annual coupon payment in the amount of US$ 6.25 million under the US$ 100 million 12.5% Subordinated Loan Participation Notes due 2018 issued by PSB Finance S.A., a special purpose vehicle incorporated under the laws of Luxembourg. The 10NC5 notes with a call option on 31 January 2013 were issued to finance the redemption of the principal of US$ 100 million notes privately placed in July 2007 for the purpose of financing a subordinated loan to Promsvyazbank.About Promsvyazbank OJSC Promsvyazbank, founded in 1995, is one of the leading privately-owned Russian banks, with total assets of RUB 414.5 billion, and total capital of RUB49.3 billion under IFRS as of 1 July 2009. Holding company Promsvyaz Capital B. V. owns 84.68% of the Bank, and Commerzbank Auslandsbanken Holding AG, a subsidiary of the second-largest German bank Commerzbank AG owns the remaining 15.32%. PSB has the following international credit ratings: “Ba2” from Moody’s Investors Service; “B” from Standard & Poor's; “B+” from Fitch Ratings. As of 1 February 2010, PSB had a network of about 240 points of sale in Russia, including 48 branches, a foreign branch in Cyprus, and representative offices in China, India and Ukraine. Banking Group Promsvyazbank includes OJSC Promsvyazbank (head organization), OJSC Volgoprombank, OJSC Yarsotsbank and OJSC Nizhny Novgorod Bank. http://eng.psbank.ru/  |
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