OREANDA-NEWS. March 14, 2012. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ completed the placement of bonds of series 21 with a total par value of 15 billion rubles with an offer in three years from the date of placement.

The bid book on bonds of series 21 was successfully closed on March 7, 2012. The final coupon rate was set by Vnesheconombank closer to the lower level of indicative price range of 8.3-8.6% in the amount of 8.4% per annum. The total demand for bonds of series 21 exceeded 20 billion rubles.

In view of the market situation, the price of placement, the coupon rate on the bonds and the demand for the bonds, Vnesheconombank made a decision to accept 30 investors’ applications. The funds received from placing the bonds are to be used to fund the Bank’s credit and investment activity.

As Vnesheconombank Chairman Vladimir Dmitriev said, “an issue of ruble-denominated bonds offered to investors was a further step in Vnesheconombank’s consistent policy on the domestic debt market. This bond issue’s success confirmed once more that we had chosen the right strategy designed to develop long-term relations with market participants.  We are seeking to diversify our debt instruments on the one hand and to enable investors to take Vnesheconombank’s risks in the form suitable to them on the other hand. The raised amount of funds fully meets the Bank’s requirements to finance its activity”.