OREANDA-NEWS. November 10, 2009. Eurasian Development Bank, bonds of which are listed on the special trading floor of the Regional Financial Center of Almaty provided Kazakhstan Stock Exchange (KASE) with a press release, reported the press-centre of KASE:

Eurasian Development Bank placed a debut issue of ruble-denominated bonds on MICEX November 3. The bonds of RUB5 bn volume will circulate for 7 years (semiannual coupon). The issue terms provide for bondholders to ask the bonds be redeemed in two years.

The placement order book was closed October 29. The ask exceeded RUB9.1 bn. As a result the rate of 1-4 coupons was set at 10.50% APR. 47 investor orders were accepted.

Funds, attracted after the bond placement, will be allocated to finance investment projects in Russia. The organizers of the issue are ZAO VTB Capital, ZAO Raiffeisenbank and OOO RON Invest.

According to the head of corporate financing and financial institutions of the bank Dmitry Krasilnikov, "a successfully selected moment for closing of books and good luck allowed the Bank for placing the bonds with a narrow spread. However, today, amidst correction on global markets, we see overbought markets in Russia. It is unlikely that closer to the end of the year we may see a decline in rates, especially amidst accrued primary offering of securities".

This is the third issue of own securities of the bank this year. In April and July the Bank issued two tranches of debut bonds for a total of KZT20 bn (USD133 m) in the Republic of Kazakhstan and in September issued international Euro bonds within the middle-term borrowing program for a total of USD500 m.