OREANDA-NEWS. March 16, 2012. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ completed placement of its series 21 bonds with a nominal value of 15 bln roubles and a put option 3 years after placement.

The book for accepting bids for acquisition of the series 21 bonds was successfully closed on March 7, 2012. Vnesheconombank set the final coupon rate at 8.40% per annum, using the lower boundary of the indicative price range of 8.30-8.60%. The total volume of demand for the series 21 bonds exceeded 20 bln roubles.

Given the market situation, cost of placement, coupon rate and existing demand, Vnesheconombank decided to accept 30 investor bids. Proceeds from the placement will be used to finance credit and investment activity of State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’.

The placement was organised by VTB Capital, Troika Dialog, and Citibank. VEB Capital acted as the lead co-organiser. Co-organiser – Globexbank; Lead underwriters – Bank of Moscow, Transcreditbank; Underwriters – SMP Bank, Nomosbank, CreditSuisse Bank, and TKB Capital.