MOSCOW Nov 22 Tinkoff Credit Systems (TCS), a
mid-sized Russian bank, is considering a Eurobond issue to help
strengthen its capital, its Vice President Sergey Pirogov told
Pirogov said the bank planned to hold meetings with
potential investors on Monday and Tuesday next week and could
then go ahead with the bond sale if market conditions were
Pirogov said, depending on market conditions, TCS
could raise around $100 million from the issue, which
would be a subordinated bond which has certain characteristics
that allow it to count towards a bank's capital.
TCS, a rapidly-growing retail bank, had a capital adequacy
ratio of 13.46 percent as of Nov 1, above a 10 percent
requirement set by Russia's central bank.
Banks have to maintain a minimum capital adequacy ratio to
act as a buffer against possible shocks.
Russian borrowers raised almost $47 billion from Eurobond
sales in 2012, almost double what they raised last year,
benefiting from investor appetite for emerging market
(Reporting by Oksana Kobzeva; Writing by Katya Golubkova.
Editing by Jane Merriman)