First coupon rate for VEB's 10th bond series comes to 8.5%
MOSCOW. Sept 30 (Interfax) - Vnesheconombank (VEB) has set the first coupon rate for its 10th series bond issue worth 15 billion rubles at 8.5%, the bank said in a statement.
The first coupon rate was set through book-building. Coupons two through 10 will carry the same rate.
Investor applications for the bonds were accepted between September 26 and 30 by Gazprombank and Sberbank in conjunction with Troika Dialog . The guidance on the first coupon came to 8.4%-8.99%, which equals a yield on a five-year offer at 8.58%-8.99%.
The placement of the 10-year bonds by open subscription on the MICEX is slated for October 4. One bond comes to 1,000 rubles at face value.
Russia's Federal Financial Markets Service (FFMS) registered this issue on October 5, 2010.
VEB currently has its sixth, eight and ninth bond issues in circulation at a total value of 40 billion rubles.
In addition, the state corporation has registered but still not placed its seventh, 10th through 17th bond series worth a combined 150 billion rubles. It is unlikely that VEB will be able to place these issues since a year will have passed in early October from the date of their FFMS registration on October 5, 2010.