OREANDA-NEWS. February 22, 2011. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank) made a debut eurobond issue denominated in Swiss francs as part of the LPN Programme under rule Reg S.

The eurobond issue volume is 500 million Swiss francs, the bond circulation period is 5 years, the coupon yield rate is 3.75% per annum.

Barclays Capital and BNP Paribas acted as arrangers of the transaction.

International ratings agencies Fitch and Standard&Poor’s assigned ratings of BBB/BBB to the bond issue respectively.

According to Management Board Member –Vnesheconombank Deputy Chairman Petr Fradkov Vnesheconombank managed to establish a new benchmark on the capital market having made not only the longest eurobond issue in Swiss francs among borrowers from developing countries but also managed to secure minimum coupon rate, given this bond issue volume.

The most part of eurobonds were placed among high-grade institutional long-term investors.