B&N Bank BO-03 Exchange Bonds Included in Lombard List of CBR
OREANDA-NEWS. August 22, 2013. According to decision of CBR Board of Directors (Minutes of the CBR Board of Directors dated August 9, 2013, No.17) B&N Bank’s BO-03 exchange bonds were included in the Lombard List of CBR (identification number 4B02-03-02562-B dated November 7, 2011). This fact indicates the high credit quality of the issuer.
On 16 July 2013 B&N Bank placed the full volume of its three-year BO-03 exchange bond series with a nominal value of RUB 2 bn.
The bonds include six coupon periods of 183 days and a put option after one year. After closing the book-building period on 12 July 2013 the issuer set payments on the first and second coupons at 11.25% per annum. Interest rates on the subsequent coupons will also be set by the Bank according to the issue documents.