EDB may place $500 mln in 10-yr Eurobonds yielding 330 b.p. to swap
MOSCOW. Sept 13 (Interfax) - The Eurasian Development Bank (EDB may place $500 million worth of ten-year Eurobonds yielding 330 basis points to average-market swaps, a debt-market review from Alfa-Bank says.
The bank has just wound up a September 10-12 Eurobond roadshow today. Meetings were held in London on Monday and in Boston and New York September on Tuesday and Wednesday.
The placement organizers are BNP Paribas, Citi, HSBC, and VTB Capital.
The last time the EDB placed Eurobonds was in September of 2009, when it offered $500 worth of five-year securities at 7.375% per annum. The organizers of that issue were Deutsche Bank, JP Morgan, and Royal Bank of Scotland. The investor bid book topped $5 billion.
In May of this year, the bank placed European commercial paper (ECP) in the context of a program for issuing commercial securities to the tune of $3.5 billion. The EDB place two ECP issues - one for $25 million with a 184-day term and the other for EUR 32 million for a term of 364 days. These securities were placed among European and Russian institutional investors. The placement dealers were the investment banks UBS, Ltd. and VTB Capital.
The EDB also has KZT 20 billion worth of global Eurobonds in circulation that mature in April of 2014.
The EDB is an international financial organization founded by Russia and Kazakhstan in January 2006 to assist the development of market economies in its member countries, and expand trade and economic ties.
The EDB has charter capital of more than $1.5 billion. Other members of the bank are Armenia, Tajikistan, Kyrgyzstan and Belarus.
