Sunday, August 20, 2017

Nomos, Otkritie Banks issue Chorus Finance bond series

Nomos Bank, Russia's sixth-largest bank by assets, and Otkritie Bank recently issued the Chorus Finance 01 series bonds totaling $140 million for a five-year period.

The bond issue is meant to raise finance for construction of the trade entertainment center that will consist of TPU Salarevo.

Marketing registration for the bond series began on March 3, and the book was opened from March 6-7.

The first coupon had a benchmark rate of 13-14 percent when the order book was first opened, corresponding to a yield of between 13.42 percent and 14.45 percent per annum.

 

The issuer gave the first coupon bonds an interest rate of 13.00 per annum. The bond issue's proceeds will be used to finance Group Horus investment activities.

 

Group Horus has been working in commercial real estate development since 2005.

 

Nomos Bank is the sixth largest bank in Russia in terms of assets. It is the second largest of Russia's private universal banks.