UBRD Makes Payment on 9th Eurobond Coupon

UrBC, Yekaterinburg, June 30, 2017. The Ural Bank for Reconstruction & Development (UBRD) made payments on the 9th coupon of its Eurobond issue ($4.08m altogether, with coupon yield at $60 per share in the last six months).

According to the bank’s press service, the coupon yield for the bank’s UBRD Capital Limited bonds was set at 12% a year, with payments to be made twice a year. The next coupon payment will be made at the end of December 2017.

The bank went through with its subordinated bond issue on June 27, 2013; the bonds are to be in circulation for 5.5 years, with face value at $1,000 per bond and total amount at $68m.

The entire procedure was carried out through an ad hoc body called UBRD Capital Designated Activity Company (Ireland) and co-managed by BCP Securities, BNP Paribas, and Sberbank CIB. The money was directed to the bank’s own funds.

The redemption date was set at December 27, 2018.

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