The EDB successfully issues a RUB 10 billion bond under the programme

25 July 2018

Almaty, 24 July 2018. The EDB announces the completion of the technical issue of 001P-01 bond of the nominal value of RUB 10 billion at the Moscow Stock Exchange under the programme (identification number 4-00002-L-001P-02E of 14 June 2018). The coupon rate is 7.60% per annum, the yield is 7.74%. The bond maturity is 1.5 years.

In the course of premarketing, investors were offered a bond of the nominal value of RUB 10 billion maximum with a target spread to the zero-coupon federal loan bond yield curve in the amount of not more than 100 basis points.

The book building started on 13 July 2018, with the initial benchmark coupon rate at 7.60%-7.75% per annum. Investors demonstrated a high interest in the bond that helped to first bring the initial range down to 7.55%-7.65% per annum in the process of book building, and then narrow it to 7.55%-7.60% per annum. The book received more than 25 applications totalling over RUB 28 billion. The actual spread to the zero-coupon federal loan bond yield curve at the final coupon rate was 84 basis points.

The favourable moment to make the transaction, the high interest of investors in EDB bonds, and the resulting significant over-subscription at the final rate facilitated the issue of the full amount of the RUB 10 billion marketable bond, creating another liquid benchmark.

The lead managers were GPB Bank (JSC), Raiffeisenbank JSC, Rosselkhozbank JSC, and Sberbank CIB JSC.

The placement agent is GPB Bank (JSC). 

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.

The EDB Media Centre:

+7 (727) 244 05 45, ext. 6147 (Almaty)

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