OREANDA-NEWS. October 04, 2013. B&N Bank has placed in full 3-year exchange bonds of BO-02 series (identification number 4B020202562B dated November 7, 2011) in the nominal amount of RUB 3bn (RUB 1000 par value per each). The issue provides for 6 coupon periods of 183 days each and a put option in 1 year after the date of placement.

On the close of the book-building period on September 20, 2013, the issuer fixed the rate of the first coupon at 10.85% p.a. and the second coupon being equivalent to the first one.  Coupon rates for subsequent periods will be fixed by the issuer according to issue documentation.  The exchange bonds were placed by public subscription and traded at MICEX. Over 70 bids from investors were fixed in the course of placement. B&NBankactedastheplacementagent.

BO-02 issue fully meets the requirements to be included in the Lombard list of the Bank of Russia. The lead managers of the issue are OTKRITIE, NOMOS-BANK and BK REGION.

“We are pleased with the results of placement, oversubscription exceeded RUB 1bn. We believe that the successful placement was triggered by market environment, excellent work of the lead managers, good distribution and strengthening positions of B&N Bank in the debt capital markets,” said Irina Komarova, Senior Vice President of B&N Bank. 

Currently B&N Bank has two outstanding ECP series in the total amount of USD71.8mln and two domestic bond issues BО-01 and BО-03 amounting to RUB 5bn.