The EDB successfully closes the book for 11 Series bonds for a total of RUB 5 billion
Almaty, 29 January 2018. The Eurasian Development Bank (EDB) announces the closure of its offer book for the initial offering of 11 Series bonds for a total of RUB 5 billion on Moscow Exchange. The coupon rate is set at 7.75% p.a. and the yield to maturity is 7.90%. The bonds will mature in seven years. An option for early redemption is envisioned in 3.5 years.
The book was opened on 26 January 2018 with the initial coupon ranging between 7.80 and 7.95% p.a. Investors’ high interest during the book building allowed to reduce the initial range to 7.70-7.80% p.a. As a result, the coupon was set at 7.75% p.a. Investors’ bids at the final coupon rate totalled some RUB 11 billion, more than twice the offer amount. The demand has demonstrated the market’s high interest in the Bank's offering. The significant number of investors in the transaction and oversubscription suggest good liquidity in the secondary market that is expected to ensure investors’ attention to further issues by the Bank.
The settlements are scheduled on 2 February. The transaction was supported by Russian investment banks – Gazprombank, VTB Capital and Raiffeisen Bank.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
EDB Media Centre:
+7 (727) 244 40 44, ext. 6147 (Almaty)