UBRD Makes 9th Coupon Payment on Bonds

UrBC, Yekaterinburg, January 10, 2018. UBRD Capital Designated Activity Company made all the payments on the 9th coupon (out of eleven all in all) to the Ural Bank for Reconstruction & Development’s subordinate Euro bonds.

The Ural Bank for Reconstruction & Development (UBRD) acts as the bond issue guarantor, while Ireland-based UBRD Capital Designated Activity Company acts as the issuer; BCP Securities, BNP Paribas, and Sberbank CIB act together as the backers for the entire affair.

‘The bonds were issued in June 2013, with a 5.5-year circulation period. The redemption date is set at December 27, 2018. The overall bond issue amounts to $68m, with the annual interest rate at 12% and biannual coupon yield repayments. The bonds got listed at Moscow Exchange in February 2016 and are therefore now more easily available to Russian investors. The first transaction took place on February 17, 2016, with the price at 101% of the bonds’ face value,’ the bank’s press service says.

The Ural Bank for Reconstruction & Development is one of the country’s largest all-purpose banks that was founded in 1990. This is now one of Russia’s Top 30 banks (according to Russia’s Central Bank).

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