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Credit Bank of Moscow shareholder considers buying out some of the bank's Eurobonds
September 27, 2017 / 7:58 AM / 2 months ago

Credit Bank of Moscow shareholder considers buying out some of the bank's Eurobonds

MOSCOW, Sept 27 (Reuters) - Rossium, the investment vehicle which controls Russian lender Credit Bank of Moscow among other assets, may buy the bank’s three subordinated Eurobonds, it said.

Rossium, which belongs to Roman Avdeyev, said it may buy Credit Bank of Moscow’s Eurobonds maturing in 2018 , 2027 and the perpetual paper .

The total outstanding amount of the papers is $1.406 billion, according to ThomsonReuters data. Rossium said in a statement it was considering buying the papers after a ‘substantial’ change in the price.

In the statement, Rossium did not say when and how much of the papers it was going to buy, or the sources of the funding needed for the deal.

Russian private banks are under scrutiny from investors and depositors after two big domestic players, Otkritie and B&N bank, had to be bailed out by the central bank in less than a month. (Reporting by Kira Zavyalova and Katya Golubkova; Editing by Christian Lowe)

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