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VEB closes books for $600M bond

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VEB closes books for $600M bond

closed the booksfor its five-year domestic bond, with the coupon set at 4.9%, corresponding toa yield-to-maturity rate of 4.96%.

Thelender had initially planned an issuance of between $300 million and $500million, but the final amount was increased to $600 million, with demand frominvestors exceeding $1 billion. The bond is denominated in U.S. dollars, butsettlements will be carried out in Russian rubles.

Kommersant reported July 15 that thebonds were purchased mostly by other Russian lenders, including , , and Otkritie.

Theplacement of the bond will take place July 21 on the Moscow stock exchange.

Sovcombank,VTB Capital and Gazprombank served as placement agents for the bond.