Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Wednesday, January 16, 2019

B&N Bank places BO-04 exchange-traded bonds

B&N Bank recently placed BO-04 series exchange-traded bonds in the amount of $57 million and maturing in six years with a one year put option.

During marketing, the initial coupon range was set at 12.00-12.50 percent (YTP 12.36-12.89 percent). Investors' demand exceeded more than $79 million. At the close of the book-building period, the issuer fixed the rate of the first coupon at 12.00 percent (YTP 12.36 percent).

The exchange bonds were placed by public subscription and traded at MICEX. More than 25 bids were fixed in the course of placement. The securities depositary is NSD.

The BO-04 issue fully meets the requirements to be included in the A1 quotation list and Lombard list of the Bank of Russia.

The lead managers of the issue are NOMOS-BANK, Bank Otkritie, Raiffeisenbank, UniCredit Bank and Russian Agricultural Bank.

Founded in 1993, B&N Bank is one of Russia's largest commercial banks.