OREANDA-NEWS. January 5, 2011. According to decision of CBR Board of Directors B&N Bank’s 1 bln. ruble bonds of series 02 were included in the Lombard List (Letter of the Central Bank of Russia dd. 17.12.2010 No.165-T (“Bulletin of the Bank of Russia” dd. 22.12.2010 No. 70 (1239). The Bank placed 1 mln. interest-bearing inconvertible documentary bonds with the obligatory centralized storage and par value of RUB 1000 each (offering price – RUB 1000).

We would like to remind that on April 27 th 2010 B&N Bank placed by public offering ruble bonds of 02 series (state registration number 40202562B as of 15.12.2009) in the amount of RUB 1 bln. Maturity period is three years from the effective date. In the framework of the loan six coupon periods 183 days each and one-year put-option at face value are stipulated. The first coupon payment at 10.5% was duly effected by the Bank. Interest rate for the second period equals to the first one. Coupon for other interest periods will be set by decision of the Issuer’s authorized body. Prepayment is not envisaged.

In the course of public auction 13 proposals were submitted and the volume of oversubscription achieved 37.6%.

The following institutions participated in the bond issue: Credit Bank of Moscow (JSC), Vyatka-Bank (JSC), Joint-stock bank “Avangard”, Company BKS (LLC), UralFD (JSC) and others.

B&N Bank expects to utilize the proceeds of the facility for expansion of ruble lending programs of corporate clients.