TCS Finance DAC successfully closes the issue of US $ 600 million participation certificates

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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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THE INFORMATION CONTAINED IN THIS ADVERTISEMENT IS CONSIDERED TO CONSTITUTE INSIDER INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS AD, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

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).

Important Notice:

EEA MiFID II / UK MiFIR Professionals / ECP only / No EEA or UK PRIIPS KID

The target market for manufacturers (EEA MIFID II / UK MiFIR product governance) includes only eligible counterparties and professional clients (all distribution channels). No EEA or UK PRIIP Key Information Document (KID) has been prepared as it is not available for retail sale in the EEA or UK. No sales to retail customers in the EEA, as defined in MiFID II, and in the UK. No sales to retail customers (as defined in COBS 3.4) in the UK.

This announcement does not constitute or form part of an offer to sell or a solicitation of an offer to buy securities in the United States. These securities have not been registered and will not be registered under the US Securities Act of 1933 (the “Securities Act”), or under the securities laws of any state or other jurisdiction of the United States, and may not be offered, sold, pledged or otherwise transferred, directly or indirectly, to the United States or to the United States, except by virtue of an exemption or in connection with a transaction not subject to the requirements of Securities Act registration. Neither this announcement nor any copy hereof may be sent, taken or distributed in the United States or to any US Person (as that term is defined in Regulation S under the Securities Act) except to persons who are qualified institutional buyers (as defined in Rule 144A under the Securities Act) (“QIB”). There will be no public offering of the securities referred to herein in the United States.

The information contained in this document does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of the securities referred to herein in any jurisdiction in which such an offer, solicitation or sale would be illegal prior to registration, exemption from registration or eligibility under the securities laws of such jurisdiction. The offering and distribution of this communication and other information referred to herein may be restricted by law and persons in possession of this communication or such other information should inform themselves and observe such restriction. . Any breach of these restrictions may constitute a violation of the securities laws of such jurisdiction.

This announcement is directed only to persons who (i) are located outside the United Kingdom or (ii) have professional experience in investment matters falling under Section 19 (5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) are persons falling under Article 49 (2) (a) to (d) (“high net worth businesses, unincorporated associations, etc. “) of the Order or (iv) to whom this announcement may otherwise be directed without contravening Article 21 of the Financial Services and Markets Act 2000 (all such persons being together referred to as” data subjects “). This ad should not be used or relied on by people who are not relevant people. Any investment or investment activity to which this announcement relates is accessible only to the persons concerned and will only be undertaken with the persons concerned.

In Member States of the European Economic Area, this announcement is addressed only to persons who are “qualified investors” within the meaning of the Prospectus Regulation (Regulation (EU) 2017/1129) (the “Prospectus Regulation”) (“Investors Qualified ”).

(MORE FOLLOWING) Dow Jones Newswires

September 21, 2021 at 2:47 p.m. ET (6:47 p.m. GMT)


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