UBRD Makes Coupon Payments on Eurobonds

10 January 2017 (09:27)

UrBC, Yekaterinburg, January 10, 2017. UBRD Capital Designated Activity Company made coupon payments on the seventh out of eleven coupons for its subordinated Eurobonds. The payment amounted to $4.08m altogether.

The Eurobonds are backed up by the Ural Bank for Reconstruction & Development, with the special-purpose Ireland-based company UBRD Capital Designated Activity Company as the issuer and BCP Securities, BNP Paribas, and Sberbank CIB as lead managers. The bonds are now listed at and available through the Irish Stock Exchange. The money thus obtained got directed to the UBRD’s own funds (27.5bn RUR as of December 1, 2016).

The company went through with the bond issue in June 2013; the bonds are to be in circulation for five and a half years and to be redeemed on December 27, 2018. The transaction amounted to $68m all in all, with a 12% annual interest rate and bi-annual coupon payments on the bonds.

The bonds were also listed at Moscow Exchange in February 2016 and are now available to Russian investors.

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