Renaissance taps interest for Russian consumer lenders
Renaissance Credit tapped its $225m 13% 2013s for a further $25m on Thursday. The note was priced in line with price guidance released two days before at the 11.5% yield area. Lead managers JPMorgan and Renaissance Capital arranged the note.
Renaissance Credit is the trading name of CBRC, and is owned by Moscow-based multinational Renaissance Group. The original deal and tap are being issued via Renaissance Consumer Funding. Commercial Bank Renaissance Capital is rated B3/B-/B-.
Citi and Renaissance Capital placed the original note in April at par. That note
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