Vnesheconombank has placed eurobonds of series 6 denominated in US dollars. The issue’s volume was 1 billion US dollars. The half of the volume (48%) was acquired by US investors.
The issue’s volume was 1 billion US dollars, the maturity period – 10 years with a coup rate of 6.025%. The spread to US treasuries with maturity date in May 2022 was 440 basis points.
The issue’s underwriters were Credit Agricole, Deutsche Bank, HSBC and J.P. Morgan.
More than 200 investors from the US (with the participation share of 48%), Europe (with the participation share of 27%), Great Britain (with the participation share of 19%), Asia (with the participation share of 4%) and other countries, with institutional investors accounting for the overwhelming participation share. The bid book was oversubscribed by more than three times and the coupon rate was set at a level significantly lower than the coupon levels of Vnesheconombank’s previous ten-year eurobonds.
The funds raised through placing eurobonds will be used to finance Vnesheconombank’s top-priority projects including in such important sectors as development of infrastructure, innovations, high technologies as well as providing support for the export of Russian products, works and services.
Author: Irina Fomina