EDB to Issue Rouble-Denominated Bonds

On 8 October, the Federal Financial Markets Service (FFMS) of Russia completed state registration of EDB bonds denominated in Russian roubles for a total of 20 billion roubles. Within twelve months of this registration the Bank will initiate up to four issuances about 5 billion each.

The terms and placement timeframe of each issuance will depend on market conditions and the EDB’s current needs.

The proceeds will be allocated for the Bank’s general corporate needs, e.g. financing investment projects in Russia.

In late September 2009 the EDB issued international Eurobonds for a total of $500 million for five years as part of its ongoing EMTN Programme. Earlier, in April to July 2009, the Bank issued and placed in Kazakhstan its Eurobonds in two tranches for a total of 20 billion tenge (about $133 million).