Russia’s Tinkoff gets tenders for $62.91 million 14% notes due 2018

By Susanna Moon

Chicago, June 9 – Tinkoff Bank said investors had tendered $62,907,000 of the $200 million of 14% loan participation notes due 2018 issued by its financing vehicle TCS Finance DAC.

The tender offer ended at 11 a.m. ET on June 8.

After settlement on June 13, there will be $95,678,000 of the notes left outstanding, according to a company update on Friday.

The company said on May 31 that it was offering $1,107.50 per $1,000 principal amount of the notes plus accrued interest up to but excluding the settlement date.

The dealer managers are J.P. Morgan Securities plc (+44 20 7134 2468 or em_europe_lm@jpmorgan.com) and UBS Ltd. (+44 20 7568 2133 or ol-liabilitymanagement-eu@ubs.com). D.F. King Ltd. (https://sites.dfkingltd.com/tinkoff or tinkoff@dfkingltd.com) is information agent and tender agent.

Tinkoff is a Moscow-based lender.

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