OREANDA-NEWS. December 3, 2012. On 22 November 2012, the Department for Licensing and Financial Restructuring of Credit Institutions of the Central Bank of the Russian Federation approved the state registration of Otkritie Bank’s bond issue.

The issue was assigned state registration number 40102179B.

Otkritie intends to issue 3mln certificated interest-bearing non-convertible Series 01 bearer bonds, all of which are subject to mandatory centralised custody. Each bond will have a par value of RUB 1,000, with the par value of the issue amounting to RUB 3bn. The bonds will mature in 1,820 days.

The bonds will allow for early redemption at a holder’s request and may also be called in by the issuer or at a holder’s request.

The issue is intended to lay foundation to Otkritie Bank’s public credit record, raise funds to finance its core operations, and diversify its funding sources.

OTKRITIE Bank ranks among Russia’s Top-20 private banks in terms of net assets and equity. As of October 1, 2010 the Bank’s assets amount to RUB110bn, while equity capital totals RUB17bn. The Bank has a ramified regional network with a presence in 32 regions of the Russian Federation and over 200 outlets. The main shareholder of OTKRITIE Bank is OTKRITIE Financial Corporation, one of Russia’s leading banking groups, which offers its clients and partners the full array of investment banking, commercial banking, and investment management services.