Promsvyazbank purchases some of its 10.2% series 7 LPNs due 2019

By Tali Rackner

Norfolk, Va., Dec. 1 – PSB Finance SA announced that OJSC Promsvyazbank purchased part of its $600 million 10.2% series 7 loan participation notes due 2019, according to a filing with the London Stock Exchange.

PSB intends to transfer any notes purchased to Promsvyazbank, which will then prepay and cancel the notes.

Following the transaction, $484.54 million remains outstanding under the issue.

Promsvyazbank is a Moscow-based lender.

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