The Credit Bank of Moscow plans to buy back U.S. $500 million worth of Eurobonds maturing in 2018 at $1,077.5 per security, the bank said in a statement on Monday.
|CREDIT BANK OF MOSCOW (CBM) is one of the leading privately owned universal banks in Russia, and focuses on providing banking products and services to corporate customers and individuals in Moscow and the Moscow Region. CBM’s corporate banking business is primarily focused on retail and wholesale trading corporate customers, enabling CBM to capitalize on the resilient Russian consumer market. CBM’s retail business is focused on consumer loans to high quality retail customers, with a particular emphasis on cross-sales of retail products to the employees and clients of its corporate customers. |
CBM offers a comprehensive range of banking services, including lending, deposit-taking, cash handling, international settlements, trade finance, guarantees and other products. By leveraging its leading cash handling service and payment terminal network, the Bank is able to monitor the cash flows and payment histories of its customers as well as, in the case of many of its retail customers, their employers, which ensures strong portfolio performance and asset quality.
According to INTERFAX-100, as at 1 October 2015, CBM is one of the top five privately owned Russian banks, measured by total assets. The Bank is currently rated BB- with a Negative outlook by S&P; B1 with a Stable outlook by Moody's; and BB with a Negative outlook by Fitch.
CBM was founded in 1992 and acquired by Mr. Roman Avdeev in 1994. Mr. Avdeev beneficially owns 70.0% of CBM’s shares. The European Bank for Reconstruction and Development, International Finance Corporation (IFC) and RBOF Holding Company I, Ltd. (100% owned by the IFC Russian Bank Capitalization Fund belonging to the same group of companies as the IFC) hold 11.2% of CBM’s shares and are represented on CBM’s Supervisory Board alongside with four independent non-executive directors. The remaining 18.8% of the Bank’s shares are owned by other minority shareholders.
|B1/Stable||LT- foreign currency||05/30/2013|
|B1/Stable||LT- local currency||05/30/2013|
|BB-/Negative||Foreign Currency LT||02/04/2015|
|BB-/Negative||Local Currency LT||02/04/2015|
|ruAA-/||LT National Scale (Russia)||10/08/2013|
|BB/Negative||LT Int. Scale (foreign curr.)||06/27/2016|
|Withdrawn/||National Scale (Russia)||02/06/2017|
|BB/Negative||LT Int. Scale (local curr.)||06/27/2016|
|Withdrawn/||National Scale (Russia)||03/18/2016|
|A (II)/Negative||National Scale (Russia)||03/10/2017|
|ruBBB-/Stable||Credit Rating of Bank||05/17/2017|
|Withdrawn/||National scale (Russia)||11/08/2016|
|Withdrawn/||National scale (Russia)||12/31/2008|