OREANDA-NEWS. February 17, 2012. The series BO-02bond issue was completed with a total face value of RUB 5 billion. The arrangers of the issue were Alfa-Bank and Troika Dialog, reported the press-centre of Alfa-Bank.

The issue’s maturity period is three years, and it carries a two-year buyback option and semiannual coupon payments. The bonds were placed on MICEX via public subscription at a fixed price and a fixed coupon rate for the first coupon period.

The coupon rate during marketing ranged from 10.25-10.75% and was lowered to 10.00-10.25% per annum when the book was closed, making the final coupon rate 25bp below the initial guidance.

Haluk Aydinoglu, President of ZAO CREDIT EUROPE BANK, said, "In view of the generally volatile situation on the Russian and European markets, this deal was one of the most successful placements of bank bonds in the Russian debt market since the start of the year and was alsoa good continuation of the bond placement program initiated in April 2011. High demand from investors and placement below the initial guidance reflectthe successful continuation of the public credit history of ZAO CREDIT EUROPE BANK in the ruble bondmarket. ZAO CREDIT EUROPE BANK thanks investors for their participation in this deal".

Commenting on the issue, Igor Kolomeisky, Head of Investment Banking at Alfa-Bank, said, "This deal is the third primary placement of bonds by ZAO CREDIT EUROPE BANK arranged by Alfa-Bank in the last year and a half. We are once again happy to contribute to the successful continuation of the public credit history of ZAO CREDIT EUROPE BANK. This reflects both the attractiveness of the bonds and the quality of Alfa-Bank’s work in the market of primary placements".