VEB places full $500 million forex bond series
MOSCOW. Feb 22 (Interfax) - Vnesheconombank (VEB) placed its full $500-million issue of series-01 forex bonds on Wednesday, the lending institution said.
The bank placed the three-year bonds in open subscription on the MICEX Stock Exchange. Technical placement took place February 21-22.
The first-coupon rate was set during book building at 3.3% per annum, and the rate on the second coupon will be the same. Bids for the bonds were collected by VEB, Raiffeisenbank, Renaissance Capital, and Gazprombank from February 15 to 17.
There will be an annual redemption offer on the bonds.
First-coupon rate guidance was at bid-book opening 3.5%-3.7%, and then it was lowered to 3.3%-3.5%.
At the end of last month, Raiffeisenbank told the market that VEB planned to place this issue in mid-February. First-coupon rate guidance was tentatively set at 3.9%-4.15% per annum.
This VEB bond issue was registered December 28, 2011.