OREANDA-NEWS. April 15, 2011. The issue of Vnesheconombank’s Series 09 bonds at a total par value of 15 billion rubles has been sold out. The issue carries a redemption option to be used five years after the bonds have been offered for sale, reported the press-centre of Sviaz-Bank.

The issue flotation has brought Vnesheconombank 15 billion rubles that meets the Bank’s current needs for finance. Beginning March 28, 2011, no applications for Series 09 bonds have been accepted and the flotation has been rated as a success.

The indicative price spread of Series 09 bonds was lowered from 8.10-8.35% to 7.90-8.10% while bidding went on. Investors filed 43 applications at a coupon interest spread within 7.90% to 8.10% per annum. Competitive bidding raised overall demand for Series 09 bonds to over 26 billion rubles.

Vnesheconombank fixed the final coupon interest rate at 7.90% per annum, the lowest threshold of the price spread.

With consideration for the current market situation, offering prices, bond coupon interest rates, and existing demand, Vnesheconombank accepted 33 application from investors. The funds raised from the sale of bonds will be used to finance lending and investment operations of the State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank).

Managing underwriters of the bond issue: VTB Capital, VEB Capital, Sberbank of Russia, and Sviaz-Bank.

Co-managing underwriters of the offering: Gazprombank and Globexbank.

Co-underwriters of the offering: IC ATON, Barkley’s Capital, Promsviazbank, Raiffeisenbank, SB-Bank, and Sobinbank.