Renaissance Credit to test T2 investors
Renaissance Credit may price its bullet tier two deal later this week, but a volatile wider market and the consumer lending bank's single-B issuer ratings may prompt investors to ask for a high price for the deal. Goldman Sachs and Sberbank CIB are bookrunners. Renaissance Capital is a co-lead manager.
“We’re definitely going to do a bullet, and we’re deciding between five years and 5.5 years for the maturity,” said one syndicate official on the deal.
Renaissance Credit is rated B2/B+/—. The subordinated notes will be unrated.
The roadshow for the deal started in London on Monday and
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