OREANDA-NEWS. November 22, 2011. ING Bank (Eurasia) completed placement of series 02 bonds with total notional amount of RUB 5 bn. The bonds have bullet maturity of 1104 days starting from the placement date, reported the press-centre of ING Bank.
 
The issue of ING Bank (Eurasia) ZAO series 02 bonds was placed in full.
 
The first coupon rate for ING Bank (Eurasia) ZAO series 02 bond issue was set at 8.22% p.a. Coupon will be paid on a quarterly basis, rates for coupons 1 to 12 are equal to 3-month MosPrime rate plus premium of 1.45% p.a. As of November 09, 2011 the 3-month MosPrime rate was fixed at 6.77% p.a.
 
Initial coupon guidance was premium of 125 – 175 bp to 3-month MosPrime rate.
 
"In a situation of such significant market volatility ING Bank (Eurasia) has confirmed its strong credit by successfully placing an issue, which is the second already this year. The funds are being raised in order to further expand the Bank's long-term lending activities in the Russian market" - Hans Grisel, CEO of ING Commercial Banking in Russia, noted.
 
ING Commercial Banking and Troika Dialog acted as Joint Lead-Managers and Bookrunners of the issue.