OREANDA-NEWS. August 21, 2007. International Industrial Bank has successfully closed a deal to place three-year Eurobonds, denominated in euros, the bank’s press service reported. Worth E200 mln, they bear 9.0% annual coupon and fall due. Co-arrangers are banks CALYON and CREDIT SUISSE.

It is a debut issue in euros, as all previous borrowings were denominated in U.S. dollars. In the course of the issue, interest in the new securities was steadily rising: applications in excess of E250 mln were received from over 40 clients. As a result, 35% of the issue was bought by investors from Asian countries, 29% - Spain and Portugal, 13% - Switzerland, 11% - Britain and Ireland, 8.0% - Germany and 4.0% - other European countries. In 2007, IIB already undertook an Eurobond issue (second in its history), worth $150m, with 9.5% annual coupon. In addition, a syndicated loan worth $140m was solicited.

The goal of the Eurobond float and the raising of financial resources at global markets is further improving IIB liabilities structure by diversifying funding sources and expanding possibilities in corporate lending and trade financing/.