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Vnesheconombank Made a Successful Secondary Placement of Currency-Denominated Bonds of Series 01v

21 february 2014 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ completed a successful offer and the secondary placement of bonds of series 01v denominated in US dollars with a total par value of 500 million US dollars.

A coupon rate on the bonds was set at 1.75% per annum for a period till maturity one year from now. In the course of implementing the current offer, Vnesheconombank bought out bonds in the amount of 2.5 million US dollars.

The bid book for bonds of series 01v as part of secondary placement was successfully closed on February 19, 2014. The total demand for bonds of series 01v amounted to 259.9 million US dollars exceeding many times the announced amount of the secondary placement. In the course of the secondary placement marketing Vnesheconombank managed not only refinance the bond issue of the current holders but also raise a significant volume of new demand. Investors made bids to buy with a purchase price in the range of from 100.0 to 100.1% of par value of bonds of series 01v.

Deputy Vnesheconombank Chairman – Member of the Board Alexandr Ivanov said: “Currency-denominated bonds of series 01v became our debut project to place bonds denominated in US dollars on the Russian market among a wide range of investors. As part of this bond issue this is already the second offer and we can say that foreign currency-denominated bonds instrument became a usual instrument in demand among investors. A significant demand in all three transactions with the bond issue (placement and two offers) allows us to say for sure about efficiency of this instrument for raising foreign-currency funds. Our successful experience in implementing foreign currency-denominated bonds will be used by us upon planning our own transactions on the Russian securities market.”

Raifeisenbank and UniCredit Bank acted as organizers of the offer implementation and the secondary placement of bonds of series 01v.

 

Press Office of Vnesheconombank
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru
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