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16.12.2016
18:32

Eximbank of Russia has successfully closed $150 mln domestic bond placement

Eximbank of Russia (REC group) set the final rate for 1-4 semi-annual coupons within the framework of its local bond placement for amount of $ 150 mln. The rate is fixed at 4.8% p.a.

The fixed rate corresponds to the effective yield of 4.86% p.a. Initially the Bank approached investors with the range 4.75-5% p.a. (yield 4.81-5.06%), then narrowed it to 4.75-4.9% p.a. in the course of book-building (YTM 4.81 -4.96% p.a.).

Investors considerable demand resulted in 60% oversubscription of nominal volume.

Settlements are scheduled for December 22, 2016.

The bank tapped the market with ten-year local bond with 2-year put-option. Bank Zenit and Sovcombank were mandated as lead-managers and book-runners.