OREANDA-NEWS. April 01, 2011. Vnesheconombank completed the placement of its bonds series 09 with a total par value of 15 billion rubles with an offer of 5 years from the date of starting the placement.

As a result of the placement, Vnesheconombank raised 15 billion rubles, with this sum being in line with Vnesheconombank’s current financing needs. The bid book for bonds series 09 was successfully closed on March 28, 2011.

In the course of working with investors, the price range for bonds series 09 was reduced from 8.10 – 8.35% to 7.90 – 8.10%. Investors submitted 43 bids with a coupon rate ranging from 7.90 to 8.10% per annum. The total demand for bonds series 09 in the course of marketing was more than 26 billion rubles.

The final coupon rate was set by Vnesheconombank in line with the low price range of 7.90% per annum.

In view of the market conditions, the price of placement, the coupon rate on bonds and the existing demand, Vnesheconombank made a decision to accept 33 investors’ bids. The funds raised through the bond placement are to be used to finance credit-investment activities of State Corporation ‘Bank for Development and Foreign Economic Activities (Vnesheconombank)’.

Management Board Member, Vnesheconombank Deputy Chairman Petr Fradkov: “It was very important for us to carry on developing long-term relationship with investors. A great demand from securities market players demonstrates the investment community great trust in Vnesheconombank’s obligations as one of the most reliable borrowers on the Russian debt market”.

VTB Capital, VEB Capital, Sberbank of Russia, Svyaz-Bank acted as arrangers of the bond issue.

Gazprombank and Globexbank acted as co-arrangers.

IK ATON, Barclays Capital, Promsvyazbank, Raiffeisenbank, SB-Bank, Sobinbank acted as co-underwriters.