OREANDA-NEWS. Volkswagen Bank RUS LLC closed the order book for its bonds worth RUB 10 bln which have a put option after two years.

The initial guidance range for the coupon was 11.00-11.40% annually, which corresponds to a yield to put of 11.30-11.73%. The final coupon rate was 11.30% (yield to put of 11.62% annually). During book building around 40 investor bids were submitted with a coupon range of 11.00% to 11.30% annually.

This bond placement by Volkswagen Bank RUS LLC is one of the most successful deals on the Russian debt capital market in the third quarter of 2014. Despite continuing high volatility on the market and investors' cautious attitude towards medium- and long-term investments, the bonds of Volkswagen Bank RUS LLC attracted keen interest from investors. This is Volkswagen Bank RUS LLC's second deal on the Russian bond market in 2014 and is further confirmation that investors place a high level of trust in the high credit quality of Volkswagen Group.

Settlements for the deal will be carried out upon placement of the bonds of Volkswagen Bank RUS LLC on the MICEX Stock Exchange on October 15, 2014 (series 08 bonds) and on October 16, 2014 (series 09 bonds).

Organisers of the placement: Sberbank CIB, ROSBANK-SG CIB, UniCredit Bank.