OREANDA-NEWS. June 08, 2009. The Bank of Moscow has successfully placed the 12th bond loan of the Republic of Karelia. The issue is amounted to RUR2 bln, with a 2-year maturity. The coupon rate is 19.05% per annum.

"This is, in fact, the first serious issue brought out by the non-1st tier issuer ", announced Denis Gaevskiy, Managing Director of the Capital Markets Department of the Bank of Moscow. "The applications numbered almost double the offer. The buyers included a broad range of Russian investors - banks and insurance companies".

The Bank of Moscow is successfully collaborating with constituent entities and municipalities of the Russian Federation in organising financing. The Bank's clients include the Republic of Karelia, the Republic of Sakha (Yakutia), Novosibirsk and the Moscow Region.

According to the Cbonds agency, in 2008, the Bank took 4th place among the organisers of bond issues for sub-federal and municipal borrowers (the total volume of issues organised amounting to RUR20 bln).