VAB Bank has successfully completed the placement of F-series bonds with the following brief description
Amount of issue: 150 000 000 UAH
Type and form: common, interest bearing, registered, in book-entry form.
Maturity date: 31/05/2010.
Put option date: 01/12/2008.
Coupon rate: 14.0 % p.a. fixed for a 1-6 coupon period. The rates of further coupons will be additionally determined by the Issuer.
Coupon period: 91 days (3 months).
The placement took place from November 1 through November 9, 2007. The guidance was set between 12.0-12.5 %.
The general bid amounted to 180 million UAH, which enabled to close the book at the lowest level.
The yield was fixed at 12.0 %. The issue was taken up by leading banks, investment and insurance companies.
The primary placement was run by two lead-managers UkrSibbank and VAB Bank simultaneously, which enabled a better coverage of the investors’ active at the UAH bond market.
According to the Head of Treasury and FI of VAB Bank, Lukas Tursa, the main investors of the bonds are companies with foreign capital, which underlines the qualitative level and long-term intentions of the investors.
Reference dataVseukrainsky Aksionerny Bank (VAB Bank) operates in the Ukrainian financial market since 1992 and, according to the National Bank of Ukraine, ranks among the large banks group as to assets. The bank’s regional network comprises 25 branches and 137 outlets, as well as a representative office in Budapest (Hungary). TBIF Financial Services B.V. (Amsterdam, Netherlands), a large international company, is one of the bank’s shareholders. In October 2006 VAB Bank became a member of the VAB Group.
As of Novermber 1st, 2007 VAB Bank’s total assets amount to UAH 5.6 bn regulatory capital – UAH 629 m, UAH 201.4 m share capital. The result of the 20th emission of shares of VAB Bank, which have been ratified in the meeting of shareholders' of July, 27, 2007, determines the size of the regulatory capital as being UAH 670 million.
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