By Andrei Skvarsky.
Raiffeisen Bank International AG and Sberbank CIB, a former unit of Troika Dialog, co-managed the recent successful sale of the Russian ruble-denominated Eurobonds by Eurasian Development Bank (EDB), an international institution set up by the governments of Russia and Kazakhstan.
The five-year securities with maximum 8% yields made up what was the first-ever issue of ruble-denominated Eurobonds by the Almaty-based bank, the firm said in a statement. The final order book topped 13.5bn rubles ($434m).
The sale followed a three-day roadshow during which EDB’s head of corporate finance, Dmitry Krasilnikov, met institutional investors in London, Frankfurt andVienna.
“Investments in rubles make up about 30% of our loan portfolio, and so, conditions permitting, we will return to this market next year,” Krasilnikov said.
Earlier, EDB sold two issues of US dollar-denominated Eurobonds.
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