Tthe EDB built the book of bids for short-term rouble-denominated bonds maturing in 62 days, for a total of RUB 3 billion

On 19 December, the EDB built the book of bids for short-term rouble-denominated bonds maturing in 62 days, for a total of RUB 3 billion. The initial coupon range was set at 6.15-6.25% per annum. The auction collected bids for a total of RUB 8.2 billion and the coupon was set at 6.15%, with a premium of 25 basis points relative to the zero-coupon federal loan bond curve. The issue is scheduled on 26 December.

Daniyar Imangaliyev, Director of Treasury at the EDB: “This is the EDB’s second offering of short-term bonds at Moscow Exchange. In September 2019, the Bank successfully placed its début issue for RUB 2 billion. We are very pleased to see investors’ growing interest in this instrument. At yesterday’s auction, their demand was almost three times as high as our offering. We determined a benchmark at the short-term end of the curve for ourselves and the market and, in the next year, we’ll work on longer-term issues. In particular, we plan to study demand for six- and twelve-month bonds.”

The arrangers of the issue are VTB Capital and Otrkitie Bank.

The Analytical Credit Rating Agency (ACRA) expects to rate the forthcoming issue of the EDB’s short-term bonds (Series 002P-02, with a total value starting from RUB 3 billion and a two-month maturity) at eAAA(RU).