In February 2004, NOMOS-BANK placed its first Eurobond issue with total par value of $125 million and 3-year maturity with semi-annual coupon payments. The deal was lead managed by ING Bank and Commerzbank AG. In February 2007 the Bank redeemed the bonds in full.
NOMOS’ second 3-year Eurobond was offered in May 2006. The issue also had semi-annual coupon payments and totalled $150 million. UBS and Citigroup acted as the lead managers for the deal. Both issues were structured as loan participation notes.
In October 2006, NOMOS-BANK placed a $125 million 10-year non-call five-year Lower Tier II Regulation S bond. This was NOMOS’ first subordinated debt issue. The issue was solely lead managed by UBS and like the previous senior one is listed on the Irish Stock Exchange; it was done as loan participation notes issued by Nomos Capital Plc. (SPV incorporated in Ireland) and included a call at year five that is conditional on the introduction of new Central Bank of Russia regulations on callable structures. The proceeds were registered by the CBR as Lower Tier II capital on 23 November 2006.
In January 2007 the NOMOS placed a 3-year USD-denominated Eurobond issue in form of Loan Participation Notes issued by Nomos Capital Plc. in the amount of $200 million. The total volume of orders from over 60 market participants exceeded $270 million the major part being provided by European investors. The issue was arranged by UBS and JP Morgan Chase and listed on the Irish Stock Exchange.
The issues currently traded in the market are as follows:
Amount: $150,000,000
Issuer: Nomos Capital Plc.
Type: Senior LPN issue, Regulation S
Tenor: 3 years
Maturity: May 2009
Coupon: 8.25% p.a. payable semi-annually
Trading floor: Irish Stock Exchange
Amount: $125,000,000
Issuer: Nomos Capital Plc.
Type: Subordinated LPN issue, Regulation S
Tenor: 10NC5
Maturity: October 2016
Coupon: 9.75% p.a. payable semi-annually
Trading floor: Irish Stock Exchange
Amount: $200,000,000
Issuer: Nomos Capital Plc.
MLA’s: UBS and JP Morgan Chase
Type: LPN
Tenor: 3 years
Maturity: February 2010
Coupon: 8.1875% p.a. payable semi-annually
Trading floor: Irish Stock Exchange
Today most Eurobonds issued by NOMOS-BANK are traded with yields lower then those of its major competitors. All NOMOS’ Eurobonds except the subdebt are rated Ba3 by Moody’s and B+ by Fitch.
