OREANDA-NEWS. November 21, 2011. Today the secondary placement of series 03 rouble bonds issued by Eurasian Development Bank was carried out on the MICEX Stock Exchange in Moscow.

The total volume of secondary placement equalled approximately R4.9 bln. A semi-annual coupon rate of 7.5% per annum will be paid out for the bonds. The conditions of the issue also stipulate the bond holders’ right to redeem them after 2 years.

In the course of book building, over 20 Russian and international investors placed orders to a total amount of R5.6 bln. As a result, the secondary offering price was 97.87% of the nominal value of bonds (yield for the offer equalled 8.90% per annum). The order book for placement was closed on November 16.

Proceeds from the secondary placement of bonds will go towards financing Eurasian Development Bank’s primary activities.

The placement was organised by VTB Capital, Raiffeisenbank, RON Invest and Troika Dialog.

Dmitry Krasilnikov, member of the Executive Board of Eurasian Development Bank and Managing Director for Corporate Financing, commented on the placement: “taking into account the current state of the secondary market and expectations for the next 2-3 months, we consider that the conditions of this attraction of funds via secondary placement are favourable, especially in terms of the conversion into US dollars, the main currency of Eurasian Development Bank”.