28 April 2004 04:14
TransCreditBank plans $150-mln debut eurobond issue
MOSCOW. April 28 (Interfax) - TransCreditBank (TKB) is planning a debut eurobond issue of $150 million, its president
Yury Kraskovsky has announced.
"We do not need a lot of money right now, but want to get on this market and create a credit history,"
Kraskovsky said. Organization talks are already underway with a number of Russian banks, he added. As to TKB's
privatization, Kraskovsky said there are two ways bank stock might be dispersed that the federal agency for managing
federal property now has. The first envisions moving bank stock into the charter capital of Russian Railways. "This
scheme will not cause [Russian Railways] any additional costs and is probably fair, though the bank stock had been taken
from railway state unitary enterprises without compensation. But this does not resolve the problem of TKB's
capitalization," Kraskovsky said. The other option, which the bank is discussing with the Property Ministry, would
have the government's stake reduced to 51% by bank stock being issued and sold in closed subscription to strategic
investors, including Russian Railways. TransCreditBank (TKB) occupied 23rd place by asset volume on the Interfax-100
rankings compiled by the Interfax Center for Economic Analysis at the end of 2003. [RU EUROPE EEU ASIA EMRG BNK RRL EUB
DBT IPO] cf
[Interfax] |
RUSSIA IN FACTS
