Russian Financial Control Monitor
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| 18-09-2013 09:38 Banking & Finance (1) Eurasian Development Bank to place $309mn bonds in September-October |
MOSCOW. The Eurasian Development Bank (EDB) plans to place RUR10bn ($309.4mn, or €231.75mn) worth of seven-year classic bonds of series 06 and 07 at the end of September or the beginning of October, the bank said.
The target rate of the first coupon is 8%-8.5% annually, which corresponds to a yield to three-year put option of 8.16%-8.68% annually. The rate of the first coupon will be determined after the bid book is closed, the rates of the second to sixth coupons will be equal to the first one, and the rates of the 7th to 14th coupons will be set by the issuer.
Each issue will equal RUR5bn. The terms envisage six-month coupon periods and a three-year put option.
The placement arrangers are VTB Capital, Gazprombank, Raiffeisenbank and Sberbank CIB. |
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