31 Mar 2011 16:15

VEB completes 15 bln-ruble series-9 bond placement

MOSCOW. March 31 (Interfax) - Vnesheconombank (VEB) placed all the bonds in its 15-billion-ruble series-9 on the MICEX Stock Exchange on Thursday, the bank said in a statement.

As reported, the rate on the first bond coupon was set at 7.9% per annum. There are twenty coupons attached to the 10-year bonds, and that rate will apply to the first ten.

Placement was accomplished via book building. Bids for the bonds were collected by VEB Capital, VTB Capital, Sberbank of Russia , and Svyaz Bank from March 16 to 28.

VEB will use the proceeds to finance its lending and investment operations.