26 Mar 2010 15:12

Credit Bank of Moscow to begin placing 8th series of bonds in mid-April

MOSCOW. March 26 (Interfax) - Credit Bank of Moscow (MKB) plans to place eighth series bonds totaling 3 billion rubles in mid-April, a source close to the issue organizer told Interfax.

The bank has announced a coupon rate guidance of 10.25%-10.75% annually.

"The coupon rate will depend on the term of the offer, which is currently being negotiated with investors at 18 or 24 months from the placement date," the source said.

The bonds will be sold in a public placement. Uralsib and Bank Zenit organized the issue.

The bonds will circulate for five years and bear 10 semiannual coupons.

MKB was the 41st biggest Russian bank by assets according to the Interfax-100 list as of the end of 2009.