Press Releases

Renaissance Bank Pays Eighth Coupon on Subordinated Eurobonds RCCF’24

23 June 2023

Renaissance Bank fully fulfilled its obligations on Eurobonds issued by Renaissance Consumer Funding DAC (“RCF DAC”) by paying a coupon for the period from December 13, 2022 to June 13, 2023. The total nominal value of the issuer’s Eurobonds (ISIN XS2011269912) is EUR 50 mln due in December 2024 with semi-annual coupon of 10.00% per annum.

The coupon income equivalent to EUR 2.5 mln was paid in Russian Rubles at a relevant exchange rate set by the Bank of Russia in accordance with the procedure stipulated by the current legislation of the Russian Federation.

Coupon payments to holders whose rights in respect of Eurobonds are registered with National settlement depository (“NSD”) and its Russian sub-depositories were wired to NSD for further transfer to bond holders. The interest amounts due to the bond holders - residents of the Russian Federation, whose confirmed rights to the bonds are accounted for in foreign depository systems, were transferred directly to their respective accounts opened with Russian credit institutions. The remaining part of a respective coupon in favor of the bond holders, whose rights in respect of Eurobonds are recorded in foreign clearing systems, was transferred to a special type “C” account opened with the Bank in the name of RCF DAC.

Thus, Renaissance Bank has fully fulfilled its obligations on subordinated loan agreement with RCF DAC.

For more information about coupon payment investors may send their queries to: ir@rencredit.ru