Tinkoff plans $500m ECP shelf and targets sub-11% Eurobond
Tinkoff Credit Systems is planning to set up a Euro-commercial paper programme, following a string of Russian issuers that have tapped the short term financing tool. The credit card lender is also planning a $200m-$300m Eurobond in the autumn.
A regulatory filing puts the size of the ECP programme at $500m but could change. The notes will be sold in small chunks from the programme, as is typical in the ECP market.
"We are considering doing $20m-$40m in the first series," said Oliver Hughes, president at the firm.
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