Russian Standard bank buys back $120 mln of bonds

MOSCOW, June 26 Fri Jun 26, 2009 10:59am EDT

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MOSCOW, June 26 (Reuters) - Russian Standard bank, Russia's leading consumer lender, bought back $120 million of its $840.8 million in outstanding Eurobonds, the bank reported on Friday.

Earlier this month the bank offered to buy back at a discount up to $175 million of its $500 million Loan Participation Notes (LPN) and $400 million LPNs - both due 2010. [ID:nLA126258]

The bank bought $30 million of the first Eurobond leaving its outstanding size at $423.6 million. It also bought back $90.6 million of the second, leaving its outstanding size at $296.6 million.

Russian Standard bank has offered to buy back the notes at no less than 92 percent and 87.5 percent respectively of their nominal price value of $1,000. (Reporting by Dmitry Sergeyev; Editing by Jon Loades-Carter)

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