OREANDA-NEWS. July 19, 2011. ING BANK EURAZIA’s has successfully concluded the issue of its floating bond series 01 for 5 billion rubles with a repayment date 1104 days from the flotation date and no interim offering.

The issuance of bond series 01 ING BANK EURAZIA was fully subscribed.

The coupon rate on bond series 01 ING BANK EURAZIA was set at 4.99% per annum and the coupon will be paid quarterly. The coupon rate for coupons 1-12 is equivalent to the quarterly rate plus 0.75% per annum. The quarterly MosPrime rate, as indicated on 14 July 2011, is 4.24% per annum.

The rate of the landmark coupon for the first quarter has been set at 75-100 bp, in line with MosPrime offered rates. Following the bond auction 15 investors’ entries were registered at the lower end of the marketing range.

“We were delighted to offer investors the opportunity to invest in unique blue chip floating notes [floaters] as at present such opportunities in the Russian market are limited. This opportunity saw high demand from investors, especially from financial organizations, as it provided an effective means of hedging percentage risks without using derivative, – says Alexander Borisov, Executive Director and Deputy Head of DCM Department, Troika Dialog. – “The successful issuance of ING Bank (Eurasia)’s three year bonds confirms Troika Dialog’s well chosen strategy to emphasize its first class debt capital market experience by seeking collaboration with world class financial institutions in both Russian and international debt capital markets.”

VTB Capital, Raiffeisen Bank, Troika Dialog, ING Bank acted as Joint Bookrunners on the issuance.