On 23 March 2017, State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” successfully closed a bid book for its PBO-001R-06 series stock exchange-traded bond issue. Up for offer to potential investors were bonds with a total par value of RUB15 bn placed in compliance with the Stock Exchange Bond Programme and maturing in sixteen months from the date of placement.
The bid book was opened on 23 March 2017 with the coupon rate initially ranging from 9.45-9.55% p.a. In total, approximately 20 bids were submitted during the book-building process. A strong investor demand for the bonds enabled Vnesheconombank to slash the coupon guidance to the minimum original range. On closing the bid book, the coupon rate was fixed at 9.45% p.a.
The bonds will be placed on the market on 30 March 2017 at the Moscow Stock Exchange.
The Bank ZENIT is the Lead Manager of the issue.