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Monday, August 19, 2019

B&N Bank serves as co-lead manager on State Transport Leasing Co. bond issue

B&N Bank recently acted as the co-lead manager on the State Transport Leasing Co.'s (STLC) $16.85 million bond issue.

Orders are now closed on the series 001P-03 exchange-traded bonds, according to a press release on the bank's website. These 15-year bonds offer a put option that can be exercised 10 years after issuance.

Due to significant investor interest, the bond was oversubscribed within hours. The final interest rate was set at 11 percent annually, with a yield of 11.46 percent annually.

B&N Bank, Gazprombank and Sovkombank acted as co-lead managers, with Gazprombank serving as the issue agent. IFC Solid served as the underwriter.

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B & N Bank - Russia

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