CREDIT BANK OF MOSCOW increases its Tier I capital by RUB 5 bln

31.07.2018

The Bank’s Tier I capital has increased by 5 bln roubles on 31 July 2018.

Having considered CREDIT BANK OF MOSCOW’s request, the Bank of Russia’s Systemically Important Banks Supervision Department confirmed that the resolution to issue 5 mln series 15 bonds of RUB 1,000 par value each qualifies under the Bank of Russia’s Regulation No. 395-P «On the Method of Calculating the Amount, and Assessing the Adequacy of, Credit Institutions’ Equity (Capital) („Basel III“)» dated 28.12.2012.

The subordinated bonds series 15 (state registration number 41501978В of 16.07.2018) were placed on 24 July 2018.

The RUB 5 bln issue pays 12.00% per annum during the first coupon period. The first coupon rate will also apply to coupon periods 2-11. The bonds are callable after 5.5 years (11 coupon periods) of the placement date and then every 5 years (1,820 days).

The Bank intends to use the proceeds to buy back some of its Eurobonds issued through CBOM Finance p. l. c. that have been tendered under buyback offers announced on 16 July 2018.

The issue was arranged by REGION Broker Company and CREDIT BANK OF MOSCOW.