MDM Bank Will Place Exchange Bonds for RUB 5 bln
OREANDA-NEWS. December 16, 2011. MDM Bank opened the book-building process for a planned placement on the MICEX of the Bank’s 4th exchange bond issue. The issue has a total nominal value of RUB 5 bln, the circulation term is three years, the coupon period is six months, and the par value of a single security is RUB
The indicative first coupon rate is 9.00-9.50% per annum, which corresponds to a yield of 9.20-9.72% per annum at the one-year put option.
The placement will be executed by way of open book-building. The first coupon rate will be set by the Bank following the results of the book-building; the second coupon will have an equal rate. The collection of applications begins on 6 December 2011 at noon and will finish on 14 December 2011 at 15.00.
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