Baker & McKenzie Advises Home Credit and Finance Bank on USD500 Million Eurobond Offering

24.01.2013

Moscow, Russia, 10 January 2013 – Baker & McKenzie successfully advised Home Credit and Finance Bank (HCFB), a leading multi channel retail finance bank in Russia, on an update of its USD1.5 billion loan participation note program and an offering of USD500 million 9.375% Callable Loan Participation Notes due 2020 for the purpose of financing a subordinated loan to HCFB. The proceeds from the issue will be used to support the bank’s growth in retail finance in Russia.

 
The subordinated Eurobonds were issued for a tenor of 7.5 years with a 5.5 years call option. The issue was 5.7 times oversubscribed and attracted strong demand from more than 180 investors from 30 countries. Citigroup, HSBC and Sberbank CIB were the joint lead managers, while PPF Banka and Raiffeisen Bank International acted as co-managers.
 
“This was a highly successful subordinated debt offering and we were delighted with the result,” commented Moscow partner Roy Pearce, who led the Baker & McKenzie transaction team.
 
The Firm’s Moscow–London team included partner Adam Farlow, associates Dmitry Dembich and Charles Farnsworth, as well as Laura Bentham and Olga Ehrman.
 
HCFB is a leading multi-channel retail finance bank in Russia. As of 30 June 2012, HCFB had approximately 3.6 million active customers reached through a wide range of channels, including banking offices, points-of-sale and post offices as well as other direct channels including the Internet. HCFB is a provider of retail finance products, including cash loans, POS loans for purchases of household goods, credit card loans and other types of loans as well as other retail banking products such as current and savings accounts, term deposits and debit cards to retail customers.
 
 
About Baker & McKenzie
Founded in 1949, Baker & McKenzie advises many of the world’s most dynamic and successful business organizations through more than 4,000 locally qualified lawyers and 6,000 professional staff in 72 offices in 45 countries. The Firm is known for its global perspective, deep understanding of the local language and culture of business, uncompromising commitment to excellence, and world-class fluency in its client service. Global revenues for the fiscal year ended 30 June 2012 were USD 2.313 billion. Eduardo Leite is Chairman of the Executive Committee. (www.bakermckenzie.com)
 
 
 
 
 
Baker & McKenzie International is a Swiss Verein with member law firms around the world. In accordance with the common terminology used in professional service organizations, reference to a “partner” means a person who is a partner, or equivalent, in such a law firm. Similarly, reference to an “office” means an office of any such law firm.
 

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