19 January 2012
The Cypriot company Egidaco Investments PLC has issued Swedish bonds with a value of SEK 550 million. The issue was a private placement directed to Swedish and foreign institutional investors. The net proceeds of the bond issue will be used to finance an intercompany loan to Egidaco’s wholly-owned Russian subsidiary, the Closed Joint Stock Company “Tinkoff Credit Systems” Bank (“TCS”), which will be used for general corporate purposes. TCS’s principal business activity is to provide consumer banking products and services to customers in the Russian Federation, primarily credit card loans and, more recently, retail deposits. The loan will carry a fixed interest rate of 12,75 percent per annum. The company will be applying for listing of the bonds on the NASDAQ OMX Stockholm. Pareto Öhman AB is the Issuing Agent in the bond issue.
CorpNordic Sweden has been assigned by Egidaco Investments PLC as agent for the bond investors.
For more information contact Anna Litewka or Jolande Svensson-Klijn.