MOSCOW, Sept 12 Mid-sized Russian lender Tinkoff
Credit Systems (TCS) plans to raise around $200 million in a
three-year Eurobond issue, guiding investors towards a yield of
up to 11 percent, a banking source told Reuters on Wednesday.
The deal is being arranged by Citigroup, JP Morgan and Alfa
Tinkoff did not immediately respond to a Reuters request for
comment on the deal.
TCS, which operates online without its own branches and has
a focus on credit cards, is controlled by its founder Oleg
Tinkov who holds a 63.2 percent stake. The rest is split between
private equity firms Vostok Nafta and Baring Vostok, along with
Goldman Sachs and TCS's management.
In April 2011, TCS, ranked among Russia's top 120 banks by
assets, raised $175 million via a three-year Eurobond carrying
an 11.5 percent coupon.
Russian borrowers, including the Finance Ministry, have
raised over $32 billion in Eurobond deals so far this year, more
than last year as a whole.
(Reporting by Oksana Kobzeva and Elena Orekhova; Writing by
Katya Golubkova; Editing by Lidia Kelly and David Holmes)