OREANDA-NEWS. On April 18, 2008, URSA Bank completed the placement of Series 8 domestic bonds and raised RUR 6.203bn, with a seven-year tenor and a put option in one year. The bonds carry a coupon of 11.19% p.a., translating to the yield to put at 11.50% p.a.

According to First Deputy General Director of URSA Bank Vladislav Khokhlov, the Bank did not aim to attract as much funding as possible at any cost. The management decided to keep the new bond’s yield at the current levels of outstanding domestic bonds of similar duration, given the Bank’s high international ratings (-/Ba3/B), as well as acceptance of URSA Bank’s domestic bonds by the Central Bank of Russia for REPO funding, and their Tier I listing on MICEX.