Vnesheconombank to collect bids for 15 bln rbl bonds Thu

March 20, 2017 - Prime


Russia’s Vnesheconombank (VEB) plans to collect bids for 15 billion ruble exchange bonds, maturing in July 2018, on Thursday, a banking source told PRIME on Monday.

The guidance for the first coupon rate is set at 9.45–9.55% annually, which corresponds to a 9.69–9.80% annual yield to maturity.

The first coupon period is 120 days, the second and third coupon periods are 182 days each.

The technical placement is preliminary scheduled for March 30. Bank Zenit will act as the organizer.

The securities will be offered under an exchange bond program, registered in May 2015.
Issuer: Vnesheconombank
Outstanding issues:
22 issuesRUB587,211,000,000
8 issuesUSD7,350,000,000
2 issuesEUR1,500,000,000
Issuer rating:
Moody's Investors ServiceBa1/StableLT- foreign currency02/21/2017
Moody's Investors ServiceBa1/StableLT- local currency02/21/2017
S&P Global RatingsBB+/DevelopingForeign Currency LT03/24/2017
S&P Global RatingsBBB-/DevelopingLocal Currency LT03/24/2017
Fitch RatingsBBB-/StableLT Int. Scale (foreign curr.)12/07/2016
Fitch RatingsWithdrawn/National Scale (Russia)02/06/2017
Fitch RatingsBBB-/StableLT Int. Scale (local curr.)12/07/2016