OREANDA-NEWS. On 1 February 2008 Promsvyazbank announced the successful public placement of its USD 100 million subordinated notes due 2018. The notes will bear interest at 12.5% rate per annum. Lead Managers of the issue are ABN AMRO and HSBC.

The proceeds from the new USD 100 million issuance will be used to redeem the outstanding USD100 million notes (private placement issued on 20 July 2007), which financed an existing subordinated loan to Promsvyazbank.

International rating agencies Fitch Ratings, Moody’s and Standard & Poors assigned "B-", "B1" and "B-" ratings to the notes respectively. Senior international obligations of Promsvyazbank are rated B+(positive), Ba3 (positive), B+ (positive) respectively.