OREANDA-NEWS. March 07, 2012. Vnesheconombank completed the placement of its USD-denominated series 01v bonds, with a total nominal value of USD 500 million, with a buy-back option 1 year after the date of the placement, reported the press-centre of Raiffeisenbank.

The order book for the bonds was successfully closed on February 17, 2012. In the course of the marketing, the indicative price range of the bonds was lowered from 3.50-3.70% to 3.30-3.50%. The final coupon rate was set by the issuer at the bottom of the price range at 3.30% per annum.

Given the market situation, the offering price, coupon rate on the bonds and the demand, the issuer decided to accept 32 investor applications.

"We highly rate the results of the Vnesheconombank’s issue of foreign currency bonds. In addition to the largest Russian and foreign banks, a wide range of retail investors purchased bonds, which in our opinion points out that we have chosen the right strategy and time of placement. Given the more than 2-fold oversubscription, we expect that there will be considerable interest in the secondary market as well," said Nikita Patrakhin, a member of the Board of Raiffeisenbank.

Funds received from the bonds will be used to finance the lending and investment activities of Vnesheconombank.

Gazprombank, Raiffeisenbank and Renaissance Capital were the organizers of the issue.