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Thursday, August 22, 2019

B&N repurchases $36.6 million in exchange bonds

B&N Bank, one of Russia's largest commercial banks, has repurchased its exchange bonds for a total amount of $36.6 million under the put option.

B&N Bank has fulfilled its obligations on the repurchase of BO-01 exchange bonds in full. According to the put option procedure, the bank repurchased all securities called for redemption at their nominal value.

Three year exchange bonds of series BO-01 in the total amount of $91.6 million were placed on Dec. 20, 2011.

B&N Bank offers a wide range of corporate banking services, including lending to large corporate clients and SMEs, payment and account services, international settlements, trade finance and ECA-backed finance, payroll services and leasing, as well as retail banking services and financial markets activities.

The bank has been assigned a solvency rating of AA-/BBB- by RusRating, a solvency rating of by Moody's Interfax, and a long-term rating of "In" and a short-term rating of "B" by Standard & Poor's.

Founded in 1994, B&N Bank has more than 120 regional offices.