By Paul A. Harris
St. Louis, Aug. 30 - PSB Finance SA, a Luxembourg-based special purpose vehicle of Russia's JSCB Promsvyazbank, announced on Wednesday that it has completed a $45 million private placement of 69-month tier 2 loan participation notes.
Citigroup acted as arranger for the Regulation S placement, which has been registered with the Bank of Russia.
Proceeds will be used to consolidate Promsvyazbank's capital base in order to support the assets segment, which will be generated primarily by an increase in corporate and retail lending.
No other details were disclosed in the Wednesday press release, and the bank did not respond to inquiries from Prospect News.
Promsvyazbank is a private commercial and retail bank based in Moscow.
| Issuer: | PSB Finance SA, (Luxembourg-based special purpose vehicle of JSCB Promsvyazbank)
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| Amount: | $45 million
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| Maturity: | 69 months
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| Security description: | Tier 2 loan participation notes
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| Bookrunner: | Citigroup
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| Distribution: | Regulation S
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| Announcement date: | Aug. 30
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