VEB prices bonds at 8.4%
MOSCOW. March 7 (Interfax) - Vnesheconombank (VEB) has set the first-coupon rate on its 15-billion-ruble series 21 bonds at 8.4%, the bank said.
Troika Dialog is the organizer of the placement along with Citibank, VTB Capital, and VEB Capital.
Guidance, originally 8.l4%-8.7%, was lowered to 8.3%-8.4%, corresponding to yield of 8.47%-8.58% per annum.
The bid book closed at 3:00 p.m. Moscow time on March 7. Technical placement of the 1,000-ruble face value bonds on the MICEX Stock Exchange is slated for not later than March 13.
Earlier, Citibank announced VEB's plans to place these securities in the first half of this month. First-coupon rate guidance was established at 8.4%-8.7% per annum, corresponding to yield to year-3 offer of 8.58%-8.89% p.a.
These bonds and another eight series of classical VEB bonds were registered by the Federal Financial Markets Service (FFMS) on January 26.
Series 18-20 and 25 are of 10 billion rubles each, series 21-24 bonds of 15 billion rubles, and series 26 - 20 billion rubles.
Bonds in all these series mature after twenty years.
At the end of February, VEB placed bonds in its 01 series ($500 million) with a first-coupon rate of 3.3% p.a.
