6 Nov 2009 11:09

B&N Bank plans to place 3 bln rubles in bonds

MOSCOW. Nov 6 (Interfax) - The board of directors of B&N Bank has approved placement of a second and third series of bonds totaling 3 billion rubles, the bank said in a statement.

The first series is made up of bonds totaling 1 billion rubles and the second series - 2 billion rubles. They will be sold in an open placement.

The bonds will circulate for three years. They bear six semiannual coupons.

There is no call option.

B&N Bank redeemed a first series of bonds in April 2006.

B&N Bank was the 44th biggest Russian bank by assets according to the Interfax-100 list as of the end of the third quarter of 2009.