UBRD Goes Through With SPO

9 November 2012 (09:29)

November 9, 2012. The Ural Bank for Reconstruction & Development completed the secondary public offering of its bonds at MICEX on November 7. The bonds were sold on the secondary market in full; Promsvyazbank, which was in charge of the first issue in April 2011, acted as the underwriter for this issue as well.

All in all, seven deals were made in the course of trading, and 553,936 bonds worth a total of 555,509,178.24 RUR were sold: this was the entire volume offered on November 2. Remarkably, the secondary demand was twice as big as the supply and came to 1.134 million bonds.

‘The investors’ great interest in the UBRD’ bond IPO and SPO indicates that the bank’s market indicators dynamics and its strategy, which is targeted at rapid development, are estimated very favorably by the market,’ says the bank’s Financial Institutions & Investment Services Director Vladimir Zotov.

There are currently two bond issues by the UBRD in circulation: the UBRD BO1 and UBRD 02 bonds with the total face value of 4bn RUR (both of the two 2bn-RUR issues were over-allotted) whose duration comes to one year and six months, respectively. Three more share issues worth 8bn RUR altogether have also been registered: they will probably be offered at stock exchanges in 2013 if the market opportunities look good.

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