TCS Group Holding PLC (TCS) TCS Finance DAC successfully closes the issuance of US $ 600 million participation certificates 21-Sep-2021 / 21:47 MSK Broadcast of a regulatory announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this advertisement.
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TCS Finance DAC successfully closes the issue of US $ 600 million participation certificates
Limassol, Cyprus – September 21, 2021 – Tinkoff Bank announces that TCS Finance DAC has successfully closed and issued yesterday successfully US $ 600 million of prepayable loan participation bonds with an initial coupon rate of 6% per an (the “Notes”). The Bonds were issued by TCS Finance DAC, but with limited recourse, for the sole purpose of financing a subordinated loan to Tinkoff Bank. The Notes have been rated “B-” by Fitch and “B3” by Moody’s. The Notes were admitted to trading on the Irish Stock Exchange Global Exchange Market yesterday.
TCS Finance DAC retroceded the proceeds from the issuance of Notes to Tinkoff Bank. Tinkoff Bank intends to use the product for general business purposes. The issue meets the criteria of Regulation No. 646-P of the Central Bank of Russia (in accordance with Basel III requirements) and will be used to strengthen the capital base of the Bank.
Sergey Pirogov, Head of Corporate Finance at Tinkoff Bank, said: “We are satisfied with the outcome of this transaction. A solid order book with almost 7? strong risk appetite of global investors for unique quality growth stories like Tinkoff. Given its attractive pricing, this AT1 offering will help Tinkoff maintain an optimal capital mix while increasing our capital to fund the medium-term growth opportunities that lie ahead ”.
Book building followed a series of debt investor meetings and benefited from a strong investor appetite and a wide geographic spread, represented by the United Kingdom (26%), continental Europe (23% ), Russia (18%), the Americas (14%), Switzerland. (12%), Asia & MENA (7%).
The transaction was launched on September 8, 2021, with an initial forecast for an annual coupon rate of 6.75%, and has been oversubscribed almost 7 times. Strong investor demand has helped the bank drastically reduce indicative coupon forecasts during book building. When the book was closed, demand exceeded US $ 4 billion at its peak and the final coupon rate was set at 6.0%.
Citigroup Capital Markets and JP Morgan Securities acted as global coordinators and bookkeepers; AO “ALFA-BANK” (acting jointly with Alfa Capital Markets Ltd), Alfa Capital Markets Ltd (acting jointly with AO “ALFA-BANK”), GPB-Financial Services Ltd, Renaissance Securities (Cyprus) Limited and Société Générale have acted in as Leaders and Bookkeepers; and BCP Securities acted as co-manager of the transaction.
For enquiries: Tinkoff Tinkoff Artem Lebedev PR Department Larisa Chernysheva IR Department + 7 495 648-10-00 (ext. 2202) + 7 495 648-10-00 (ext. 2312) Alexandr Leonov Andrey Pavlov-Rusinov + 7 495 648-10-00 (ext. 35738) [email protected] [email protected] About Tinkoff Group
TCS Group Holding PLC is an innovative provider of online financial services for retail and SMEs. It includes Tinkoff Bank, its mobile virtual network operator Tinkoff Mobile, Tinkoff Insurance, its asset management company Tinkoff Capital, Tinkoff Software DC, a network of development hubs in major Russian cities, and Tinkoff Education. The Group is currently developing the Tinkoff ecosystem, which offers financial and lifestyle services.
The Group was founded in 2006 by Russian entrepreneur Oleg Tinkov and has been listed on the London Stock Exchange since October 2013.
The Group’s core business is Tinkoff Bank, a fully online bank serving over 16 million customers and forming the heart of the Tinkoff ecosystem. Tinkoff is Russia’s 3rd largest retail bank in terms of active customer base.
Tinkoff Bank is the second largest player in the Russian credit card market, with a share of 14.3%. TCS Group Holding PLC’s 2Q’21 IFRS net profit amounted to 16.1 billion rubles. The ROE was 46.1%.
With no branches, the Group serves all of its customers remotely through online channels and a cloud-based call center. The center has more than 10,000 employees, making it one of the largest in Europe. To ensure the proper delivery of the Group’s products, the Group has a national network of more than 10,000 representatives.
Global Finance named Tinkoff Bank the world’s best consumer digital bank in 2020 and 2018, and Russia’s best consumer digital bank in 2020, 2019, 2018, 2016 and 2015. Tinkoff was also named the best European retail bank in the world. year by Retail Banker International in 2020. In 2021, the banker recognized Tinkoff Bank as the best performing bank in Russia. The bank’s mobile application has always been hailed by independent local and global experts as the best of its kind (in 2013, 2014, 2015, 2016 by Deloitte and in 2018 by Global Finance).
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September 21, 2021 at 2:47 p.m. ET (6:47 p.m. GMT)