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CREDIT BANK OF MOSCOW announces the results of the tender offer

On 10 October 2017, CREDIT BANK OF MOSCOW announces the results of the tender offer made by its special purpose vehicle CBOM Finance p.l.c. at the Bank’s request in respect of its U.S.$500,000,000 8.70% Loan Participation Notes due 2018 (Common Code: 092407845, ISIN: XS0924078453), of which U.S.$106,205,000 remained outstanding. The Notes were issued in spring 2013 for the purpose of financing a subordinated loan to the Bank. The tender offer was intended to improve the bonds’ liquidity and manage the maturity profile of the Bank’s borrowings.

The Bank was committed to buy back all of the aforesaid outstanding Eurobonds, but investors showed low demand: only ‎U.S.$25,034,000 of the Eurobonds was tendered, which is less than 25% of the outstanding principal. Investors’ willingness to keep Eurobonds of CBOM Finance p.l.c. attests to the Bank’s reputation as a reliable borrower in the international capital market and to the high level of trust it enjoys within the international investment community.

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